SHANGHAI (Reuters) - A top Chinese policymaker has called for state-owned enterprises (SOEs) to continue their overseas expansion despite the intensifying trade dispute with the United States and increasing scrutiny of Chinese firms abroad.
Wang Jieming, deputy director at China's State-owned Assets Supervision and Administration Commission, said in an interview with China Securities Journal that the regualtor would support SOE expansion efforts via Beijing's Belt-and-Road initiative.
"At present, 85 central enterprises have implemented about 3,000 projects along the Belt and Road," Wang said in response to a question about how the trade war would affect the country's SOEs.
"We will continue to support central enterprises in the areas of infrastructure construction, equipment manufacturing and capacity cooperation, scientific and technological innovation, and also strengthen cooperation with governments and enterprises."
Wang's comments come as overseas governments increasingly speak out against China's business operations in their countries, arguing that Beijing subsidizes such firms, causing market distortions.
Wang added that China's SOEs are "independent market players" and downplayed the role of government subsidies in maintaining their operations.
"It can be said that Chinese laws and regulations do not specifically provide for subsidies for state-owned enterprises, and central enterprises do not have subsidies based on ownership," Wang said.