Fri, May 06, 2011
Business > Economy

China eyes fair treatment for its firms in US

2011-05-06 11:44:30 GMT2011-05-06 19:44:30(Beijing Time)  Xinhua English

BEIJING - China urges indiscriminate treatment for Chinese firms that seek to enter the US market, a senior official said in Beijing on Friday.

"We have received many complaints from Chinese companies that have met discrimination as they try to invest in the United States, even though the US side has repeatedly stated that Chinese companies are welcome," vice finance minister Zhu Guangyao said at a press briefing prior to the upcoming third round of the China-US Strategic and Economic Dialogue, which will be held from May 9 to 10 in Washington.

Zhu made the remarks in response to a question about the failure of Huawei to acquire the assets of 3Leaf Systems, a small US company. Huawei, China's largest telecommunications equipment manufacturer, withdrew from an agreement to buy the assets in February under pressure from a US panel over security concerns.

Chinese companies' overseas investments are not only beneficial to China, but also to other countries, including the United States, said the official.

The Chinese and US governments should create good business environments for companies from both countries, he added.

"The Chinese government will speak for its companies and discuss its policies, not only for industrial enterprises, but also for financial firms," he said.

Zhu said that China wishes for the US side to provide Chinese companies with favorable "legal and institutional" environments and treat China's state-owned companies fairly.

During the briefing, Zhu reiterated that China will not link its innovation policies to the provision of government procurement preferences.

"The two delegations will continue to discuss the issue and the Chinese side will make clear at the dialogue that it will honor its words," he added.

"As the US government continues to request accessibility to the Chinese market for its firms, we now raise a similar request on behalf of Chinese firms," Zhu said, adding that the mutual requests indicate that China and the United States have confidence in each other's development.

Mutually accessible markets will serve to deepen bilateral ties between the two countries, he added.

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