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Ministry: Rio detention not to affect China's foreign investment environment
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16:50, July 15, 2009

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Australian Minister for Trade: Rio Tinto detentions won't damage Sino-Australia trade

Four Australian Rio Tinto employess detained over spying

Rio Tinto detentions will not affect China's foreign trade and foreign investment environment, said Yao Jian, spokesman of the Ministry of Commerce at a press conference on July 15.

He stressed that China is confident in the future development of bilateral economic ties between the two countries and will try to solve the current problem through political negotiation and enterprises cooperation.

This single case marks the improvement of China's legal system. The fact that solely foreign owned enterprises are the major form of foreign investment in China in last five years shows foreign investors' confidence in China's legal system and economic environment, he noted.

He also emphasized that foreign companies should abide by the laws of the host state, adding that China will further roll out policies favoring foreign investment in China and relax market access restrictions.

As for the Sino-Australia ties, Yao said that the two countries are important trade partners to each other and have been cooperating smoothly in various fields including raw industrial materials, free trade talks and agricultural products.

The government will support the Iron & Steel Association (CISA) to continue negotiations with iron ore suppliers and is looking forward to a balanced and reasonable agreement which is beneficial to China, a major iron ore importer which makes 60 percent of the world iron ore trade.

By People's Daily Online

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