'Foreign Companies In China Are Family, Not Guests'

Commerce Minister Wang Wentao on Sunday told delegates at the China Development Forum in Beijing that China wants foreign companies, including those from the US, to continue to invest in the country.

Wang told the conference that "foreign companies are not guests, but family", adding that China would step up efforts to strengthen intellectual property rights and serve foreign investors.

Also speaking at the forum, the International Monetary Fund managing director, Kristalina Georgieva, pointed to China's rebound from Covid-19 as a bright spot for the world economy in 2023.

The IMF forecasts China's economy to grow 5.2 percent this year, driven by a rebound in private consumption as the country reopens.

"The robust rebound means China is set to account for around one third of global growth in 2023 – giving a welcome lift to the world economy," she said.

"A 1.0 percentage point increase in GDP growth in China leads to 0.3 percentage point increase in growth in other Asian economies, on average – a welcome boost."

Separately on Sunday, Vice Finance Minister Zhu Zhongming iterated in a statement that China supports international accounting firms, including Deloitte, operating in China.

The comments came after Zhu met with Deloitte's Global Council Chairman, Shu Yawei, in Beijing. (Agencies)