China to keep door open to foreign investment

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BEIJING: China will take steps to safeguard its interests, but won’t close its door to foreign investment and the global industry despite trade frictions with the United States, a Chinese official said.

Earlier this month, before key Sino-US trade talks, Washington decided to widen its so-called “entities list” to include some top Chinese artificial intelligence start-ups such as Megvii Technology and SenseTime Group.

“We will look at the trade friction between China and the United States with an open mind and a big heart, ” said Huang Libin, a spokesperson for the Ministry of Industry and Information Technology , although China will also closely monitor the US entities list. “We will not blindly emphasise ‘self-developed and controllable’, and will not decouple from the development of international industries, ” Huang told reporters at a briefing.

 

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