China's commerce minister meets Elon Musk

Chinese Commerce Minister Wang Wentao met with Elon Musk, CEO of Tesla, in Beijing on Wednesday, exchanging views on China-US economic and trade cooperation and Tesla's growth in China, according to a statement released by the Ministry of Commerce.

Wang said that with deep economic integration between China and the United States, both countries should strengthen economic and trade dialogue and cooperation based on the principles of mutual respect, peaceful coexistence and win-win cooperation. They are essential for global economic growth and technology development.

The commerce minister said that China is comprehensively promoting Chinese modernization and expanding high-level opening-up, which will bring new development opportunities for companies from various countries, including Tesla.

Wang reiterated that the Chinese government will continue to provide efficient and practical services and support the long-term and stable growth of foreign-invested companies in its market.

Musk said that the China-US relationship is not a zero-sum game. He expressed gratitude to the Chinese side for the support and assistance provided to Tesla's Shanghai factory during the COVID-19 pandemic.

In addition to praising China's vitality and potential for development and expressing confidence in this market, the US business executive said that he is willing to further deepen mutually beneficial cooperation in the country.

The US carmaker announced in April that it will build a new factory in Shanghai to manufacture its energy-storage product Megapack.