China market expansion, opening-up continue

China pledges to open up more opportunities to foreign players. contributed photo

BEIJING — China will continue expanding opening-up and market access, said Chinese Foreign Ministry while rebuking a report by Germany’s BDI industry association criticizing China’s business environment.

As Germany’s main business lobby group, the BDI called on the European Union to adopt a tougher policy toward China and urged companies to reduce their dependence on the Chinese market out of concerns over alleged price dumping and unfair technology transfer.

At a daily press briefing, Foreign Ministry spokesman Lu Kang made a response citing the latest statistics.

He quoted a World Bank report titled “Doing Business 2019: Training for Reform,” which showed China has moved up 32 places to the 46th position in the global rankings.

When it comes specifically to Germany, Lu said from January to November 2018, German companies had 86 percent more investment in China than the same period the year before, adding that the German chemicals giant BASF’s new site in Zhanjiang in south China’s Guangdong Provinces is a good example of the improved business environment.

Trade exchanges, mutual investment and technology transfers are voluntary among market players, and essentially feature a mutually beneficial relationship.

The spokesman also mentioned that the US electric carmaker Tesla Inc. on Tuesday broke ground on its first overseas factory in Shanghai.

“Capital votes with its feet,” Lu said, stressing that if the Chinese market were not open enough and full of barriers and challenges, as the report claimed, foreign enterprises including the German ones would not have invested so much in China.

“With progress in market opening-up obvious to all during the past 40 years of reform and opening-up, China will continue to expand opening-up and market access,” Lu said.

“Trade exchanges, mutual investment and technology transfers are voluntary among market players and essentially feature a mutually beneficial relationship,” the spokesman added.