China Vows Fairness for Foreign Companies

(Industry Week – The Associated Press)

China’s premier promised foreign companies equal treatment with Chinese rivals, in Beijing’s most high-profile effort yet to quell complaints it is trying to squeeze foreign competitors out of its markets.

“We will endeavor to create a level playing field for all market players, foreign and Chinese enterprises alike,” Premier Wen Jiabao said at a news conference with European Union President Jose Manuel Barroso.

China has faced repeated complaints in recent months that technology and other policy are being used to promote its companies at the expense of foreign rivals in violation of the spirit of its free-trading commitments.

It is unusual for such a senior Chinese leader to respond to complaints by foreign companies, and Wen’s remarks indicated the importance Beijing attaches to placating investors that are supplying technology and skills to develop its economy. Read more here.