FOREIGN companies won't be forced to transfer technology to ventures with their local partners in order to gain access to markets in China, Commerce Minister Chen Deming said yesterday.

"The Chinese government is committed to the policy of reform and opening up and welcomes and encourages, as always, foreign investment," Chen said. "Technology transfer and technology cooperation shall be decided by businesses independently and will not be used by the Chinese government as a pre-condition for market access."

The US and some other Chinese trading partners have increased their criticism of the nation's investment policies.

US President Barack Obama said in his State of the Union address last month that he would create a trade enforcement unit to investigate unfair trade practices in countries including China.

Chen said that China had reviewed all its laws governing foreign trade and economic issues shortly after joining the World Trade Organization in 2001 and "revised those not conforming to WTO rules and its accession commitments."

His comments were made ahead of Vice President Xi Jinping's visit to the US next week.

"As the financial crisis is spreading and worsening, all countries are faced with the task of promoting economic growth and creating more jobs," Chen said.

Stronger cooperation between the US and China is in the fundamental interest of both nations, he said.

 

Source:shanghaidaily.com