State councilor vows to facilitate foreign investment

Xinhua 2016-11-04

State Councilor Wang Yong on Nov 3 attended a China-Germany economic forum in Sichuan province, saying that China will work to make investment in China easier for foreign companies, including German ones. In return, he hopes Germany will treat Chinese investors equally.

Wang also said at the forum that China will promote bilateral cooperation in the fields of equipment manufacturing and renewable energy, and between the two countries’ mid-sized and small enterprises.

German Vice Chancellor Sigmar Gabriel said Germany is an open market, with no restrictions except for matters concerning security interests.

Last month, the German government resumed a review of Chinese investor Fujian Grand Chip’s proposed purchase of German machine builder Aixtron, citing security concerns.

Gabriel said Chinese investment in Germany has surged in recent years and the prospects are promising.

Last year, bilateral trade between the two countries exceeded 163 billion euros, up 5.6 percent year-on-year.

He raised the hope that China can continue to reduce restrictions on foreign investment and that companies from both countries can enjoy a fair competition environment in China.

The event was part of the Western China International Fair, which opened Thursday in Chengdu, capital city of Sichuan. The forum was attended by more than 350 delegates, including executives from dozens of heavyweight German companies.