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US firms welcome to increase their investment in China: MOFCOM

US firms can share China’s development dividends and are welcome to increase their investment in the country, China’s vice minister of commerce told US business representatives while urging their government to meet China halfway to maintain bilateral ties.

Wang Shouwen, China’s Vice Minister of Commerce and deputy international trade representative, made the remarks at an online symposium with board members of the US-China Business Council on Tuesday.

Executives from the headquarters of 15 US firms including GM, Boeing, JPMorgan Chase and Qualcomm attended the meeting focusing on China-US trade ties, China’s current business environment and expanding opening-up, according to a statement on the Ministry of Commerce (MOFCOM) website on Wednesday.

China has been earnestly implementing the phase one trade deal with the US, in the face of the pandemic-inflicted challenges and the complexities of China-US trade relations, and strives to create a sound environment to facilitate pragmatic cooperation between businesses from both countries, Wang told the symposium.

Such remarks stand in contrast with continuing hostility on the part of the Trump administration.

Wang also reiterated China’s unswerving resolve to deepen reforms and expand its opening-up.

China strongly opposes US’ wrongdoings relating to issues concerning Taiwan and Xinjiang, he said.

The nation’s stable supply chains, strong resilience and the fundamentals of the economy’s long-term prospects remain unchanged, in extending olive branch to the US business community, the vice minister is quoted as saying in the statement.

Participating US business representatives congratulated China’s immense achievements in combating the pandemic and taking the lead in resuming work and production, said the statement. They also commended the China’s implementation of the phase one deal and were bullish about the growth potential of the Chinese market and expected a stable China-US relationship.

The US business representatives also touched on topics regarding the opening of agricultural and services sectors, air transportation and medical collaboration, MOFCOM’s statement said.

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