Miao Wei said China will fully open up the general manufacturing sector to create a fair market environment for all players. Handout.

Miao Wei, Chinese minister of Industry and Information Technology, said the nation will fully open up the general manufacturing sector and implement “pre-establishment national treatment, plus negative list” rules to create a fair market environment for all players, as well as attracting more foreign investment.

For example, Tesla is one of the first beneficiaries of China’s opening up of auto industry, Miao said at the China Development Forum 2019 in Beijing.

He was referring to the establishment of the automaker’s production base in Shanghai after the Ministry of Industry and Information Technology released an official timetable for the further opening up of China’s auto industry.

Miao noted that two key measures to push forward high quality development of manufacturing industry are the deepening of market-oriented reform and improving market openness.

The government should also let the market play a decisive role and insist on increasing the opening up for what he termed win-win cooperation.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Leave a comment

Your email address will not be published. Required fields are marked *