Elon Musk meets China’s foreign minister as Tesla boss touts expansion in the country

Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, east China, Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Elon Musk met with China’s Foreign Minister Qin Gang on Tuesday as Beijing pushed to show it is open to foreign business and the Tesla CEO reportedly signaled further expansion in China.

Qin, who was until recently China’s ambassador to the U.S., said “Chinese-style modernization,” characterized by a huge population and “common prosperity” will create “unprecedented growth potential and market demand,” according to a statement from the Chinese foreign ministry.

He added that China’s electric vehicle market “has broad prospects for development” and that China will continue to open up and create a better market-oriented and law-based business environment for foreign firms like Tesla.

According to the Chinese foreign ministry statement, Musk praised Chinese the Chinese people and China’s achievements. Tesla opposes “decoupling” and is willing to continue to expand its business in China, the statement said.

Tesla did not immediately respond to a CNBC request to verify the Chinese foreign ministry’s statement.

The meeting between Musk and Qin comes at a time of continued tensions between the U.S. and China over technology. Last year, Washington enacted sweeping export restrictions on key chips and semiconductor equipment to China, in a move that could hobble’s Beijing’s attempts to boost its domestic industry in a critical technology.

This month, Chinese regulators barred operators of “critical information infrastructure” in China from buying products from U.S. chipmaker Micron.

The Chinese foreign minister on Tuesday said that a “constructive” U.S. and China relationship is in the interest of both countries and the world.

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