Thursday, 31 Oct 2024

Beijing warns China-linked US businesses: you cannot ?make a fortune in silence?

Beijing warns China-linked US businesses: you cannot ‘make a fortune in silence’


Beijing warns China-linked US businesses: you cannot ?make a fortune in silence?
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Beijing has urged US business groups with interests in China to "speak out" and lobby the US government in its defence, warning that as bilateral relations deteriorate they cannot make money "in silence".

The vice-foreign minister Xie Feng, in charge of managing China's relationship with the US, also urged against political boycotts of the upcoming Beijing Winter Olympics, saying it harms the interests of athletes and was "unpopular".

Key business groups including the American Chamber of Commerce in Shanghai and the US-China Business Council, met Xie at a virtual forum on Tuesday, according to a transcript of his address.

The meeting's warning added to letters sent by China's embassy in Washington directly to US businesses last month, making similar threats and urging them to lobby against US bills that would affect Chinese interests.

Xie praised the recent meeting between the US president, Joe Biden, and China's leader, Xi Jinping, in seeking to restore the relationship, and said that when bilateral relations were good, economic and trade cooperation was smoother.

"It's good to enjoy the shade under the big tree," he said. "Conversely, if the relations between the two countries deteriorate, the business community cannot ‘make a fortune in silence'.

"We hope that our friends in the business community will clearly oppose the politicisation of economic and trade issues and the abuse of the concept of national security, push the Biden administration to lift the tariffs imposed on China, stop the suppression and sanctions against Chinese enterprises and provide a level playing field for enterprises of both countries."

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