Qin Gang, a former ambassador to the US before being appointed China's foreign minister, said “Chinese-style modernization”, characterised by a large population and “common prosperity”, would create “unprecedented growth potential and market demand”.
The Chinese Foreign Ministry 's statement did not provide details of the discussion between Tesla CEO Elon Musk and senior Beijing officials, but quoted Qin Gang as saying that the mainland's electric vehicle market "has great development prospects" and that the country will continue to open up, create a law-based business environment, and provide better guidance for foreign companies like Tesla.
In response, Musk praised China's people and achievements in recent times, affirming that Tesla opposes the "decoupling" policy and is ready to continue expanding its business operations in the mainland.
Reacting to the news, the electric car company's shares jumped 5% after the stock market opened on May 30, trading at $202.93 per share.
The meeting between Elon Musk and Qin Gang comes amid a tech dispute between the world’s two largest economies that shows no signs of abating. Last year, Washington imposed sweeping export restrictions on semiconductors and key chipmaking equipment to China, a move aimed at hampering Beijing’s efforts to boost its vital domestic industry.
In May, China suddenly announced that it would ban its “critical information infrastructure operators” from purchasing products from Micron, the largest semiconductor company in the United States.
Foreign Minister Qin Gang said a “constructive” relationship between the two countries would benefit both sides and the world.
On Tesla’s side, the May 30 meeting comes as the company faces increasingly fierce competition and is embroiled in a price war in the Chinese market. The electric carmaker has been cutting prices in China due to the difficult macroeconomic environment.
China is Tesla's second-largest market and Musk has unsurprisingly sought to maintain good relations with Beijing, pledging long-term investment and praising the mainland's technological achievements.
Tesla’s largest car factory is in Shanghai, and last month the company announced plans to build another factory in the city to produce megapack batteries.
(According to CNBC)
Source
![[Photo] National Assembly Chairman attends the seminar "Building and operating an international financial center and recommendations for Vietnam"](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/7/28/76393436936e457db31ec84433289f72)
Comment (0)