Chinese minister stresses equal treatment for foreign businesses

BEIJING - China will continue to welcome foreign businesses to invest and will grant equal treatment to all market players, a senior Chinese official said Tuesday.

"As China's achievements are closely connected to its opening up, we will, as always, widen market access for foreign investment, and the door will never be closed," Miao Wei, minister of industry and information technology, said at a press conference.

Miao said the country's industrial policies will be unbiased no matter where a business comes from.

His remarks came in response to concerns that the favorable policies of the government's manufacturing improvement program, known as "Made in China 2025," will only apply to homegrown businesses.

Miao said the policies will be equally applicable to both domestic and foreign-funded companies as the policies are designed to build a sound environment to facilitate industrial upgrades and they will give full play to market forces.

"Made in China 2025" was announced in 2015 to develop China into a manufacturing powerhouse in which overseas businesses are encouraged to increase investment and set up research and development centers in the country.

Miao also reassured investors that China will continue to step up protection of intellectual property, saying the government did not and will never force foreign businesses to share their technology.