Business· Automobile

Tesla, Dell among U.S. companies voicing will to further engage Chinese market

minutes 2021/04/15 12:55:36

Apr 15, 2021 (China Knowledge) - At a round-table meeting with China's top economic planners on Tuesday, U.S. companies including Tesla and Dell vowed to remain optimistic about China's development and will further engage the Chinese market despite ongoing trade disputes and the COVID-19 pandemic.

A total of 60 representatives from 47 American companies and organizations participated in the first of a series of discussions designed to help them better understand China's 14th Five-Year Plan (2021-2025) and the Long-Range Objectives Through the Year 2035.

Tesla is among the American firms present and it remains optimistic that the current disputes are only temporary and that it intends to benefit from China's ambition to become carbon neutral within three decades.

Tesla reported record deliveries in the first quarter of 2021, largely thanks to China's strong sales.  China wants a fifth of its new vehicles, approximately 4 mln units to be new energy vehicles by 2025.

Dell’s global vice president, Zhou Bing, also spoke highly of China’s business environment. Noting that the opening-up measures would offer the company more growth opportunities.

With the pandemic causing the deepest global recession in decades, China’s economic recovery has emerged as a lifeline for U.S. companies, with analysts expecting retail sales to return to yearly growth in China in the third quarter of this year.

Zhang Zhiqing, deputy director of the Department of Foreign Capital and Overseas investment at the NDRC, said that China will continue to shorten the negative lists for foreign investment access where foreign investments were limited or prohibited. The Chinese government has also vowed to actively promote foreign investment in areas such as advanced manufacturing, high technology, energy conservation and environmental protection.

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