China firmly protects lawful rights, interests of foreign businesses: white paper

Cooperation is the only correct option for China and the United States, and only a win-win approach will lead to a better future, said a white paper released by the Information Office of the State Council on Monday (September 24).

The white paper titled "The Facts and China's Position on China-US Trade Friction" said that China's position is clear, consistent and firm.

China is firmly committed to safeguarding its national dignity and core interests, advancing the sound development of China-US economic and trade relations and protecting the lawful rights and interests of foreign businesses in China, it said.

The United States is a major source of foreign investment for China. According to China's Ministry of Commerce(MOFCOM), by the end of 2017, there were approximately 68,000 US-funded enterprises in China with actualized investment of more than 83 billion US dollars.

China and the United States have both reaped enormous benefits from trade and economic cooperation. American firms have played an exemplary role in China for their Chinese peers in terms of technological innovation, marketing management, and institutional innovation. They have promoted market competition and motivated Chinese firms to improve their technology and management.

At the same time, the United States has gained access to a wide range of business opportunities such as cross-border investment and entry into the China market, which have played a big part in driving economic growth, improving consumer welfare, and upgrading the economic structure in the United States.

The white paper said that China is firmly committed to protecting the lawful rights and interests of foreign businesses in China, including building an open and transparent foreign-related legal system, improving the business environment, and providing better, higher-quality services to businesses from all countries operating and investing in China.

China respects international business practices, observes the rules of the World Trade Organization, and treats all businesses registered in China equally. China encourages market entities including foreign businesses to engage in various forms of cooperation, and stands committed to creating a level playing field in the market.

The white paper said the Chinese government pays close attention to the legitimate concerns of foreign investors, and stands ready to respond to and address their specific concerns. China will always protect the lawful rights and interests of foreign investors and foreign-invested businesses, and take firm measures to address violations of their lawful rights and interests in accordance with the law.

The white paper said that China will keep improving its laws and regulations on IPR (Intellectual Property Rights) protection, and enhance the quality and efficiency of IPR reviews. "China protects the lawful IPR of foreign businesses in strict accordance with the law, and takes stern measures to address all types of IPR infringement cases," it said.

(Source: Xinhua)