Business / Economy

China pledges reciprocity, market operation in capacity export

(Xinhua) Updated: 2015-04-29 09:20

BEIJING - China will abide by the principle of cooperation, reciprocity, openness, inclusiveness and market operation in its industrial cooperation with other countries, according to Foreign Minister Wang Yi.

Wang was speaking at a forum aimed to promote capacity cooperation, which is a program that aims to export China's advanced and practical equipment, and its mature and reliable technology. All these are offered at a competitive price and without additional conditions with the view to assist regional and foreign development.

Wang said China would use its experience to help other developing countries as well as give them financial assistance. China wants to facilitate the transfer of advantages in natural resources and workforce into development momentum.

The forum presented China's capacity cooperation as open and transparent. The program will adhere to market rules and operation, and further improve systems, laws and financial services that support Chinese companies' cooperation with other countries, he added.

China's capacity export meets the demand of developing countries in need of foreign capital, equipment and technology, the foreign minister said.

According to Wang, outbound investment will exceed $650 billion in the coming five years, a strong guarantee for China's capacity export.

"We are willing to help other developing countries improve infrastructure construction, transfer technology to them, and help them create more jobs and have better development capabilities," Wang said.

He also pledged that the foreign ministry will disseminate information and provide consul support to Chinese companies to safeguard their rights and interests overseas.

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