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China tells U.S. companies that they are welcome in its market

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China welcomes U.S. companies to actively participate in its market and will strive to create a fair and just environment, the industry ministry said on Monday, citing a meeting it held with firms such as Qualcomm Inc and General Motors.

Xiao Yaqing, China’s Minister of Industry and Information Technology, made the comments during a video meeting held with a delegation sent by the US-China Business Council, the ministry said in a statement published on is website.

Executives from the headquarters of companies like General Motors and Qualcomm attended the meeting, alongside the heads of the US-China Business Council, the statement said, adding that Xiao had also commented on how there were good market prospects in areas like 5G technology and new energy vehicles.

The meeting comes as tensions between Beijing and Washington have escalated in recent weeks particularly over issues like technology that have ensnared Chinese companies like Semiconductor Manufacturing International Corp, TikTok owner ByteDance and Tencent Holdings.

Sourcereuters

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