China Refutes Pompeo's Claim That Companies Face Difficulty in Making Profit in China
China disputed claims from Secretary of State Mike Pompeo that China is stealing U.S. intellectual property and that it is “difficult” for companies to make a profit in China, saying the U.S. is engaging in “bullying practices.” A spokesperson for China’s Foreign Ministry pointed to a recent survey r released by the U.S.-China Business Council, which reported that 97 percent of the council’s members ran a profitable business in China. “I wonder how Mr. Pompeo came to the conclusion?” the spokesperson said during an Oct. 22 press conference.
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Pompeo told CNBC on Oct. 21 that China’s forced technology transfers make it “very difficult” to “make a profit in China for many, many companies.”
The China spokesperson criticized what she called the U.S.’s use of “unilateral sanctions and bullying practices” to “wantonly oppress foreign entities and individuals," saying China is not stealing intellectual property. “China is firmly opposed to it, has no interest in it and will never ‘steal’ it,” the spokesperson said.
The spokesperson also warned against decoupling the two countries’ economies, saying “China is further opening up to all countries, including the U.S.” China hopes the U.S. will remove its “unreasonable restrictions” on Chinese companies, the spokesperson said. “Decoupling from the Chinese economy would be decoupling from opportunities and the future. We believe the US is fully aware of that.”