Drudge Retort: The Other Side of the News
Saturday, November 11, 2017

A top Communist Party official said Friday that China won't force foreign companies to turn over technology secrets to gain market access, signaling attention to a key sticking point with U.S. President Donald Trump as he prepared to leave Beijing.

The statement by Chinese Vice Premier Wang Yang, the Communist Party's No. 4 official, was made in an article published in the People's Daily newspaper under his byline. While other Chinese officials have made similar pledges in the past about foreign technology, Wang's statement stands out for the seniority of the person making it and its timing.

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Publication of Wang's article came as Trump ended his first state visit with Chinese President Xi Jinping, a trip that yielded $253 billion in tentative business deals, but included no bilateral announcements on lowering market barriers. But within hours of Trump's departure, Vice Finance Minister Zhu Guangyao announced the long-awaited removal of limits on foreign ownership of banks, brokerages and asset management companies in China.

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the oligarchs escape to China. for now.

#1 | Posted by ichiro at 2017-11-11 11:32 PM | Reply

The statement by Chinese Vice Premier Wang Yang,the Communist Party's No. 4 official, was made in an article published in the People's Daily newspaper under his byline.

I suppose having your own byline saves all that time with press briefings and all that stuff.

#2 | Posted by REDIAL at 2017-11-11 11:41 PM | Reply

Wow, what a concession. Agreeing to stop doing something that is already illegal.

#3 | Posted by Sully at 2017-11-12 02:58 PM | Reply

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