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

Credit: REUTERS/ALY SONG

SHANGHAI, Oct 19 (Reuters) - 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 QCOM.O and General Motors GM.N.

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 0981.HK, TikTok owner ByteDance and Tencent Holdings 0700.HK

The Wall Street Journal (WSJ) reported on Saturday that Chinese officials had issued repeated warnings to U.S. government officials that China may detain Americans in China in response to the Justice Department's prosecution of Chinese military-affiliated scholars.

China's foreign ministry on Monday said in response to questions about the WSJ's report that the United States was trying to play victim.

(Reporting by Brenda Goh; editing by Emelia Sithole-Matarise)

((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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