Li welcomes foreign help with China transition

The Chinese government welcomes and encourages more participation from overseas enterprises in its economic transition, Premier Li Keqiang said on Thursday.
Li made the remarks when meeting with representatives from enterprises, think tanks and the media at the Boao Forum for Asia Annual Conference.

During the one-hour closed-door conversation, Li listened to suggestions and problems raised during their work.

Takeshi Uchiyamada, chairman of Toyota Motor Corp, told Li that Toyota hopes to cooperate better with automobile companies in China on producing new energy vehicles.

Automobile companies in Japan started to deal with environmental issues earlier than China, and have gained rich experience to help Chinese companies in this regard, Uchiyamada said.

Li welcomed the idea, adding that China has always had an open attitude to companies from overseas, and the degree of such opening-up will advance.

"We now have subsidies for new energy automobiles, and such subsidies will be granted to overseas automobiles as well," he said.

In February, the State Council set out five measures supporting the development of the new energy vehicle industry. These included building a platform for innovation in developing batteries and awarding enterprises that make breakthroughs in battery research and sales.

Li learned from Li Shufu, chairman of Zhejiang Geely Holding Group, that Toyota and Geely are working on hybrid technology that has been used in cars. Experienced engineers from Toyota have taken part in technical research for this work.

Li said diplomatic and economic relations between China and Japan will support each other, with both moving forward to a bright and broader future.

The transition in economic driving forces was a heated topic for discussion for Li and participants at the meeting.

Benedikt Sobotka, CEO of Eurasian Resources Group, said he is positive about China's economic transition and industrial upgrading as he thinks the country is now on the right track.

Li, responding to a question on the Asian Infrastructure Development Bank, said, "China's development has benefited from international financial institutions for many years, and China is a supporter of these financial institutions.

"The ... AIIB will work strictly under international regulations, aiming to support regional development. There is undoubtedly no reason for China to set up a system on its own."