China continues to sweet-talk foreign firms, but business groups ‘need something solid’
- Vice-Premier Hu Chunhua says preferential policies released by the government will apply equally to foreign companies
- Market access remains the top concern among European businesses operating on the mainland, according to the president of the European Union Chamber of Commerce in China
Beijing has doubled down on its charm offensive to convince foreign businesses to stay in China, as the central government struggles to protect the nation’s role in global value chains amid continued threats by US President Donald Trump to cut bilateral economic ties.
On Tuesday, Vice-Premier Hu Chunhua held talks with foreign business delegates, assuring them that China will reduce market barriers and create a better business environment, according to the official Xinhua news agency.
“China will try to address foreign investor concerns … while preferential policies released by the government will apply equally to foreign firms,” Hu was quoted as saying.
On the same day, Commerce vice-minister Wang Shouwen said Beijing will “significantly” increase the number of sectors in which foreigners can invest.
We will let more foreign companies enjoy opportunities in the Chinese market … and create a stable, fair, transparent and predictable business environment
“We will let more foreign companies enjoy opportunities in the Chinese market … and create a stable, fair, transparent and predictable business environment,” Wang said in a statement.
The comments serve as the latest salvoes in an increasingly loud verbal barrage by Beijing to convince foreign firms, including American companies, that China will become more open for business, even though tensions with the United States continue to escalate. And President Xi Jinping has been at the forefront of the charm offensive.