Thursday, 16 August 2018

US technology charge false, says China

china

GENEVA: China has told the World Trade Organisation’s (WTO’s) dispute-settlement body that US accusations that Beijing forced companies to hand over technology as a cost of doing business in China were groundless.

US President Donald Trump has accused China of stealing US ideas and announced a plan for a $50bn tariff penalty against Chinese goods.

Both sides launched legal complaints at the WTO over the issue earlier in 2018. “There is no forced technology transfer in China,” Chinese ambassador Zhang Xiangchen said at the meeting on Monday, according to a copy of his remarks.

“According to the US’s view, China forces the US companies to transfer technologies by imposing joint-venture requirements, foreign equity limitations and administrative licensing procedures,” Zhang said.

“But the fact is, nothing in these regulatory measures requires technology transfer from foreign companies.”

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