Policies on attracting investment unwavering

As the world grapples with rising unilateralism and protectionism, China said multilateralism is the inevitable solution to the challenges facing the world and the country's door to the outside world will only open wider.

It has also been reiterated that China's policies to attract foreign investment have not changed and will not change.

Speaking at a roundtable in Beijing on Sunday with executives from more than 20 U.S. companies, including Tesla, GE Healthcare and Medtronic, China's Vice-Minister of Commerce Ling Ji reaffirmed the country's commitment to reform and opening-up amid global trade tensions. Ling said China encourages U.S. companies to engage in fact-based dialogue and take practical steps to help safeguard the stability of global supply chains.

The roundtable came amid a new round of trade tensions as the U.S. recently hiked tariffs on trade partners including China.

Last week, U.S. President Donald Trump signed an executive order on the so-called "reciprocal tariffs", imposing a 10 percent "minimum baseline tariff" and higher rates on certain trading partners. The policy includes tariffs of up to 34 percent on imports from China and 20 percent on imports from the European Union.

In response, China announced a comprehensive package of countermeasures, including a 34 percent tariff hike on all U.S. imports, starting on April 10, and export controls on rare earth.

Ling, who is also deputy China international trade representative, said that China's response to the U.S.' misuse of tariff measures aims to uphold the lawful rights of businesses, including those with U.S. investment, as well as encourage the U.S. to return to the path of fair and rules-based multilateral trade.

China has long been — and will continue to be — an ideal and promising destination for foreign investors, including those from the U.S., he added.

Lin Jian, a spokesman for China's Foreign Ministry, said on Monday that the U.S.' tariff policy would further widen the gap between developed and developing economies, and underdeveloped nations would bear the maximum brunt.

Expressing concerns over the latest round of sweeping U.S. tariffs, Jens Eskelund, president of the European Union Chamber of Commerce in China, told China Daily that many member companies have reassessed their supply chains, adopting measures such as supplier diversification and localized production in China, to mitigate the risks triggered by geopolitical and economic rivalry.

"However, the U.S. tariff increases are likely to disrupt supply chain operations for many European companies, both in China and globally," Eskelund added.

Miguel Lopez, CEO of German industrial conglomerate Thyssenkrupp, said that amid the rising geopolitical and economic uncertainties, a strong commitment to global collaboration is more crucial than ever.

A similar sentiment was expressed by Peter Goetz, managing director of Gaggenau, a German luxury kitchen appliance manufacturer owned by Munich-based BSH Home Appliances Group.

"Free trade is the lifeblood of the global economy, bringing wide-ranging benefits, from opening new markets and enhancing supply chain resilience to empowering individuals and communities across the globe," Goetz said.

The German company plans to open its third store in China later this year in Hangzhou, Zhejiang province, followed by a fourth in Shenzhen, Guangdong province, in 2026.

Showing its confidence in the Chinese market, U.S. health and home care product manufacturer Amway recently announced its latest investment — the establishment of its first farm in China, located in Sichuan province.

Michael Nelson, CEO of Amway, said the company will continue to expand its presence in China, because it firmly believes in the country's growth momentum and consumption potential in the years ahead.