Chinese Foreign Minister Qin Gang defended his nation’s development approach at an event attended by foreign executives Friday, while also warning that it will not compromise on Taiwan.
(Bloomberg) — Chinese Foreign Minister Qin Gang defended his nation’s development approach at an event attended by foreign executives Friday, while also warning that it will not compromise on Taiwan.
“China has found a path by itself to modernization and created a new form of human advancement,” Qin said at the opening of Shanghai’s Lanting Forum, which was partly organized by the government.
“Modernization should not make the rich richer and the poor poorer, nor should it serve the interests of only a few countries or individuals,” he said.
Qin also hit back at accusations that China is changing the status quo regarding Taiwan, comments that come after a Group of Seven foreign ministers’ meeting in Japan cited a need to stand up to Beijing’s moves to change the situation.
“Such claims go against basic common sense on international relations and historical justice,” he said. “The logic is absurd and the consequences are dangerous.”
Qin’s comments underscore Beijing’s determination to stand up to what it sees as US efforts to suppress its growth and meddle in its handling of Taiwan, the democracy sitting just off China’s coast that it has pledged to bring under its control. The People’s Liberation Army held three days of military drills around Taiwan earlier this month to show its anger over President Tsai Ing-wen meeting House Speaker Kevin McCarthy in California.
The US appears close to stepping up its curbs on China’s tech ambitions, partly due to national security concerns. President Joe Biden aims to sign an executive order in the coming weeks that will limit investment in key parts of its economy by American businesses, people familiar with the internal deliberations have said.
See: Biden Aims to Unveil China Investment Curbs With G-7 Backing
The US has been briefing its G-7 partners on the investment curbs for high-tech industries, and hopes to get an endorsement at next month’s meeting of leaders in Japan, even though the other countries aren’t expected to announce similar restrictions at the same time, the people said.
The move would follow the US imposing tariffs on Chinese imports under ex-President Donald Trump, and more recently seeking to restrict exports of key American technologies. The US has also rallied nations including the Netherlands and Japan to curb exports of advanced chips.
Treasury Secretary Janet Yellen said in a speech Thursday in Washington that the administration was prepared to accept economic costs as it sought to protect US national security interests from threats posed by the world’s No. 2 economy, even as she appealed to Beijing to cooperate on shared global concerns.
In March, Chinese leader Xi Jinping hit back at the US campaign, calling it “suppression by Western countries led by the US.” He urged China’s private sector to help overcome the “containment,” and last week called for “achieving high-standard self-reliance in science and technology.”
In Qin’s remarks to the forum that’s being attended by executives including HSBC Holdings Plc Chairman Mark Tucker and Mercedes-Benz Group AG Chief Executive Officer Ola Kallenius, he pledged China would “continue to promote high-quality opening-up.”
That comment comes as China emerges from three years of harsh Covid Zero restrictions that hampered economic activity and made it nearly impossible for businesspeople to visit the nation.
Among other comments Qin made:
- Taiwan’s eventual return to China is a component of post-World War II international order. That appears to be an effort to counter US officials who say Beijing is bent on revamping that system to meet its own needs.
- China wants “peaceful solutions” to international disputes, with the foreign minister reiterating that it isn’t supplying weapons to the fighting in Ukraine. The US has warned China against providing lethal aid to Moscow.
- The nation’s officials would “do our utmost to help relieve the debt burdens of developing countries.” China, a major lender to debt-laden developing countries, has been mired in disputes with multilateral banks over which parties should take the lead in restructuring sovereign debt.
- Qin boasted of China’s world-leading position in installed capacity for renewable energies and vowed to actively participate in cooperation on climate change.
(Updates with more details of Qin’s speech.)
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