China's MOFCOM held a meeting with foreign firms to discuss the impact of US tariff increases on the investment and operations of foreign enterprises in China; committed to further opening-up, with policies that are stable, consistent, and predictable.

Full Translation Below

Ministry of Commerce holds roundtable with foreign-invested enterprises

On April 23, Vice Minister of Commerce and Deputy China International Trade Representative Ling Ji chaired a roundtable with foreign-invested enterprises to discuss the impact of U.S. tariff increases on the investment and operations of foreign enterprises in China.

Ling Ji stated that during a meeting with representatives of the international business community on March 28, President Xi Jinping emphasised that foreign enterprises, especially multinational corporations, play a significant role in maintaining the world economic order and also shoulder important responsibilities. Recently, the United States' unilateralism and bullying through arbitrary tariff measures have sparked strong dissatisfaction in the international community. These actions have seriously undermined the rules-based multilateral trading system and international economic and trade order, and disrupted global industrial and supply chain stability — with companies in China and around the world being the victims. To defend its legitimate interests and uphold international fairness and justice, China has responded resolutely. Ling expressed hope that foreign enterprises would voice rational perspectives, remain confident, overcome difficulties, turn crises into opportunities, and jointly confront unilateralism and protectionism. China will continue to expand high-level opening-up, earnestly safeguard the legal rights and interests of foreign enterprises, take a more proactive role in helping them resolve operational challenges in China, ensure the smooth functioning of supply chains, and work to address the concerns raised by foreign-invested enterprises.

Representatives of the attending enterprises said that President Xi’s important remarks on March 28 have instilled confidence and courage in foreign enterprises to overcome challenges. Despite the complex and severe external environment, the Chinese government consistently attaches great importance to addressing the issues faced by foreign enterprises operating in China. It remains committed to further opening-up, with policies that are stable, consistent, and predictable. These enterprises expressed willingness to continue investing in China, deepen mutually beneficial cooperation, and jointly face challenges.

The meeting was hosted by the China Association of Enterprises with Foreign Investment. More than 80 foreign-invested enterprises and representatives from foreign chambers of commerce in China participated. Officials from the Ministry of Finance, Ministry of Commerce, General Administration of Customs, and National Medical Products Administration attended and responded to the issues raised by the enterprises.

Analysis details (07:34)

• Familiar language from China.

24 Apr 2025 - 07:34- ForexEconomic Commentary- Source: MOFCOM