China, Netherlands to resolve business disputes through consultations

China and the Netherlands have agreed to facilitate the resolution of business disputes through consultation to ensure secure and stable global semiconductor supply chains, the Ministry of Commerce said on Thursday.

He Yadong, a spokesman for the ministry, made the remarks at a news conference in Beijing in response to a media query about progress in resolving the issue concerning Nexperia, an overseas subsidiary of Chinese company Wingtech Technology.

"Since China and the Netherlands established an open and pragmatic partnership for comprehensive cooperation more than a decade ago, bilateral economic and trade cooperation has continued to deepen," He said.

Earlier this month, Commerce Minister Wang Wentao and Sjoerd Sjoerdsma, Dutch minister of foreign trade and development cooperation, co-chaired the 18th meeting of the China-Netherlands Joint Economic and Trade Committee in Beijing, where they had a candid and in-depth exchange of views on China-Netherlands and China-EU economic and trade relations, He said.

Both sides agreed that the two governments should foster a favorable environment for companies to resolve disputes through consultation and safeguard the security and stability of global semiconductor industrial and supply chains, He added.