MOFCOM supports foreign companies

Govt strengthens efforts to further open markets, cut rules

China is committed to offering equal treatment to domestic and foreign companies, an official told the Global Times on Thursday, after some US companies operating in China expressed concerns over transparency and equal treatment on Chinese policies governing overseas investment.

Gao Feng, spokesman of the Ministry of Commerce ( MOFCOM), noted that the Chinese government has given and will continue to give foreign enterprises comprehensive national treatment and will create and maintain a fair and competitive business environment.

Gao’s comments came after the American Chamber of Commerce in Shanghai released a report on Wednesday, which stated that 77 percent of US companies in China were profitable in 2016 and 73.5 percent reported revenue growth in the year.

“The sound performance of US companies in China shows that the domestic business environment is improving … we also noticed that some US companies in China showed concerns over whether Chinese policies and measures are transparent and equal. I believe those worries are unjustified,” Gao said.

He said that the Chinese government has reiterated in recent years the principle that foreign- invested companies are actually Chinese enterprises, and therefore will be treated the same as their domestic counterparts.

“We not only talk the talk, we also walk the walk,” Gao said.

In June, China removed 27 restrictions from its latest negative list for foreign investment in its free- trade zones.

The government will further open up markets and will implement a 2017 guidance catalogue for the foreign in- vestment industry on July 28. These actions aim to further cut restrictions to foreign capital across the country as well as provide a less restricted environment for foreign enterprises that seek growth in China, the spokesman said.