China tries to reassure foreign companies over industry plan

China's industry minister has defended a manufacturing development plan and rejected complaints foreign makers of electric cars and other goods might be pressured to hand over technology or forced out of promising markets.
Miao Wei, minister of industry and information technology, tried today to reassure foreign companies that the "Made in China 2025" plan treats all companies equally.
Miao told a briefing "the strategy and its related policies are applicable to all businesses in China, be them domestic or foreign."
The European Union Chamber of Commerce issued a report earlier this week saying foreign firms have been induced to give up encryption and other technology to potential Chinese competitors.

Technology is a growing flashpoint in trade tensions with Washington and Europe, which worry their competitive edge is eroding.