Arab Today, arab today china promises protecting legitimate interests of foreign companies
Last Updated : GMT 08:59:02
Arab Today, arab today
Arab Today, arab today

China promises protecting legitimate interests of foreign companies

Arab Today, arab today

Arab Today, arab today China promises protecting legitimate interests of foreign companies

Chinese Foreign Ministry spokesperson Hong Lei
Beijing - QNA

China reaffirmed its commitment to protect the legitimate interests of foreign businesses after U.S. business lobbies called for a set of new Chinese cybersecurity regulations to be overturned.
"The Chinese government will protect the legitimate interests of foreign companies in accordance with law," Chinese Foreign Ministry spokesperson Hong Lei said in a statement carried by Chinese news agency (Xinhua).
The Foreign Ministry spokesperson stressed China's adherence to the win-win strategy of opening up, saying the strategy has resulted in the wide application of information and communication technology (ICT) and promoted economic and social development in the country.
That also creates a huge market for the companies from the United States and other countries," Hong said.
"China welcomes and supports foreign companies expanding their market shares in China," Hong said, calling on them to jointly research and produce with Chinese firms.
The new regulations would require technology vendors working with Chinese banks to hand over source code and adopt Chinese encryption algorithms, according to reports.

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