TMTPost -- Chinese Premier Li Qiang highlights Beijing’s commitment to opening up and improving economic and trade ties between China and the United States in meeting with Elon Musk, CEO of the American electric vehicle (EV) giant Tesla Inc.

Credit：Xinhua News Agency

Li hailed Tesla's development in China as a successful example of China-U.S. economic and trade cooperation, and noted cooperation featuring equality and mutual benefits meets the common expectations of the two peoples, the state-run Xinhua News Agency reported. It is hoped that the U.S. will work more with China to follow the strategic guidance of the two countries' heads of state and promote the sustained and stable development of bilateral ties, so as to bring more benefits to the people of both countries and the world, the premier said.

Li said that China's vast market will always be open to foreign-funded enterprises, which he called indispensible participants in and contributors to China's development. China will act on its words and intensify its efforts in expanding market access and enhancing services, among other areas, to offer a more favorable business environment and stronger support for foreign enterprises, he said.

Musk told Li that Tesla willing to deepen cooperation with China to achieve more win-win results, Xinhua reported. Musk pointed out that Gigafactory Shanghai boasts best performance among facilities of his company and praised the "hardworking and intelligent Chinese team" at Shanghai factory. "Honored to meet with Premier Li Qiang. We have known each other now for many years, since early Shanghai days," Musk posted on social media platform X following the meet. Prior to the meet, Musk expressed his optimism on the EV market after arriving in Beijing. Prior to the meet, Musk expressed his optimism on the EV market after arriving in Beijing. It’s good to see EVs making progress in China, and all cars will be electric in the future, Musk said, quoting by Chinese state media.    

Sunday also saw Li stressed the importance of developing intelligent connected new energy vehicles (NEVs) and making the auto industry more high-end, smarter and greener when China’s No.2 official  inspected the 2024 Beijing International Automotive Exhibition. Li called for pursuing industrial innovation led by sci-tech innovation, furthering opening up and cooperation, and better satisfying and creating market demand, Xinhua reported. He urged automakers to accelerate efforts to tackle core technologies, strengthen industrial chain coordination and promote intelligent manufacturing levels, while enhancing the development and layout of forward-looking technologies and boosting the auto industry by improving quality and upgrading continuously.

Li stressed that China and global NEV markets are growing steadily, and that there is plenty of room for market demand. China will boost more extensive exchanges and cooperation among automakers from home and abroad in terms of capital, technology, management and talent, helping them share in China's market opportunities, the premier said. Noting that the Chinese government is implementing a plan to promote the large-scale renewal of equipment and the trading-in of consumer goods, Li called for giving play to the leading role of the auto industry in expanding investment and boosting consumption. The plan was issued last month by the State Council, the country’s cabinet. It is expected to increase equipment investment in areas including industry, agriculture, construction, transportation, education, culture, tourism and medical care by more than 25% by 2027 compared with last year.

Li met with Musk in Beijing Sunday during the chief executive’s surprising trip. Neither Tesla nor Musk, the entrepreneur who is keen on disclosure of his personal plan or schedule on X, announced the trip earlier.The state media China Central Television (CCTV) reported Musk was invited by the China Council for the Promotion of International Trade (CCPIT) and the billionaire met with Ren Hongbin, head of the trade association, "to discuss next steps in cooperation and other topics".

Musk was reported to meet officials in China about rollout of Tesla’s Full Self-driving (FSD) system in the country and permission to transfer data overseas.. China’s state media didn’t confirm Musck has talked about FSD or anything related to  the driver-assistance software. Tesla will continue to work hard in China, develop together with the industry peers in areas such as artificial intelligence, EVs and energy storage, and accelerate deployment of clean energy and autonomous driving technologies, so as to turn its beautiful vision into reality, posted the U.S. EV maker on Chinese social media platform Weibo, attaching a screenshot of a CCTV report about Premier Li’s meet with Musk.