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China Pledges Equal Treatment For Foreign Businesses

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China says it will continue to welcome foreign businesses and will grant equal treatment to all market players, a senior Chinese official said on Tuesday.

“As China’s achievements are closely connected to its opening up, we will as always, widen market access for foreign investment, and the door will never be closed,’’ Miao Wei, the Minister of Industry and Information Technology, said at a news conference.

Miao said the country’s industrial policies would be unbiased no matter where a business comes from.

His remarks came in response to concerns that the favourable policies of the government’s manufacturing improvement programme known as “Made in China 2025’’, will only apply to home-grown businesses.

Miao said the policies would be equally applicable to both domestic and foreign-funded companies as the policies were designed to build a sound environment to facilitate industrial upgrades.

According to him, they will be given full access to market forces.

“Made in China 2025’’ was announced in 2015 to develop China into a manufacturing powerhouse in which overseas businesses are encouraged to increase investment and set up research and development centres in the country.’’

Miao also reassured investors that China would continue to step up protection of intellectual property, saying the government did not and would never force foreign businesses to share their technology.

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