Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission (SASAC), answers questions at a press conference on reform and development of State-owned enterprises on the sidelines of the first session of the 13th National People’s Congress in Beijing, capital of China, March 10, 2018.[Photo/Xinhua]
BEIJING — China’s top State-owned enterprises (SOE) regulator called on other countries to treat Chinese investment fairly and equally on March 10.
“It’s understandable that all countries conduct investigations into foreign investment, but they should give equal treatment to all foreign investors, not discriminate,” Xiao Yaqing, head of State-owned Assets Supervision and Administration Commission (SASAC), told a press conference on the sidelines of the first session of the 13th National People’s Congress.
Globalization is here to stay, and free trade and investment will benefit the people, Xiao said, adding that foreign investment by Chinese SOEs is market driven.
China’s central SOEs had 9,112 overseas branches by the end of last year, in 185 countries and regions with a total asset volume of about 7 trillion yuan (about $1.1 trillion).
China will encourage SOEs, especially central SOEs to expand their business overseas.
“In going global, it’s not just about competition. There should be more cooperation to seek win-win and mutual beneficial outcomes,” Xiao said.