Elon Musk met with China’s International Minister Qin Gang on Tuesday as Beijing pushed to point out it’s open to international enterprise and the Tesla CEO reportedly signaled additional growth in China.

Qin, who was till lately China’s ambassador to the U.S., stated “Chinese language-style modernization,” characterised by an enormous inhabitants and “frequent prosperity” will create “unprecedented development potential and market demand,” in accordance with an announcement from the Chinese language international ministry.

He added that China’s electrical automobile market “has broad prospects for growth” and that China will proceed to open up and create a greater market-oriented and law-based enterprise surroundings for international corporations like Tesla.

Based on the Chinese language international ministry assertion, Musk praised Chinese language the Chinese language folks and China’s achievements. Tesla opposes “decoupling” and is keen to proceed to broaden its enterprise in China, the assertion stated.

Tesla didn’t instantly reply to a CNBC request to confirm the Chinese language international ministry’s assertion.

The assembly between Musk and Qin comes at a time of continued tensions between the U.S. and China over know-how. Final 12 months, Washington enacted sweeping export restrictions on key chips and semiconductor gear to China, in a transfer that might hobble’s Beijing’s makes an attempt to spice up its home business in a important know-how.

This month, Chinese language regulators barred operators of “important info infrastructure” in China from shopping for merchandise from U.S. chipmaker Micron.

The Chinese language international minister on Tuesday stated {that a} “constructive” U.S. and China relationship is within the curiosity of each international locations and the world.

On Tesla’s facet, Musk’s go to of Tuesday comes as the corporate faces heightened competitors and a worth battle in China. Tesla has been adjusting the costs of its automobiles in China amid a harder macroeconomic surroundings on the planet’s second-largest financial system.

The Chinese language international ministry assertion didn’t provide a lot element on what was mentioned between Musk and Qin. China is Tesla’s second-biggest market, and Musk has sought to take care of good relations with Beijing. The billionaire has pledged investments through the years and praised the nation’s know-how.

“China rocks for my part,” Musk stated in 2020.

Tesla’s greatest automobile manufacturing manufacturing unit is within the Chinese language mega-city Shanghai, and the corporate in April introduced plans to construct one other plant regionally to fabricate its Megapack power storage system.