China refutes US allegations of forceful technology transfer

ANI | Updated: Apr 08, 2018 04:58 IST

Beijing [China], Apr. 08 (ANI): China has refuted the allegations of the United States regarding the forceful technology transfer with respect to China 2025">Made in China 2025 plan.

China on Saturday hit out at the U.S. 301 Section investigation report released in March according to which the former is accused of forced technology transfer for U.S. companies via requirements for joint-ventures and shareholding shares as well as imposing concrete restrictions and interventions on U.S. firms in China, as reported by China's Xinhua News state agency.

The U.S. report hinted at the China 2025">Made in China 2025 plan, with its proposed tariff list covering the same manufacturing sectors as the plan.

China clarified that the plan is in line with the new wave of global industrialization to modernise the manufacturing sector with development targets for ten subsectors including information technology and robotics.

Zhang Yalin, a member of the National Manufacturing Strategy Advisory Committee (NMSAC), pointed out that China has opened up most of its general manufacturing sector and has a mechanism to review fair market competition.

"Foreign firms enjoy obvious benefits from joint-ventures. They can access the Chinese market and enter the global supply chain with reduced costs and better competitiveness," Yalin said.

As per the Center for Strategic and International Studies of China China 2025">Made in China 2025 plan focuses on the guiding principles that include manufacturing be innovation-driven, emphasize quality over quantity, achieve green development, optimize the structure of Chinese industry, and nurture human talent

China 2025">Made in China 2025 was adopted in 2013. (ANI)