China's Internet regulator warns foreign companies

China's Internet regulator Wednesday warned that foreign firms should not harm the country's interests and security while making big money from this market, state-run Xinhua News Agency reported.
"The bottom line of the Chinese government concerning the management of Internet is national interest and the interests of Chinese consumers," said Lu Wei, director of the State Internet Information Office, at 2014 Summer Davos in the north Chinese city of Tianjin.
"We welcome all foreign companies to do business in China if they stick to this bottom line," Lu said at a sub-forum about the future of Internet business.
When responding to a question about China's ongoing anti-trust probes, Lu said the probes do not target any specific company and China is always open to foreign firms, according to the report.
"But we also would like all foreign companies to understand that they should abide by Chinese laws," he said. Lu stressed that the fast development of Internet businesses in China proved that the country's industrial policy is open, and domestic IT firms are also open to cooperation with foreign counterparts.
China is conducting anti-monopoly investigations against Microsoft, Jaguar Land Rover, and Qualcomm.
Paul E. Jacobs, executive chairman of Qualcomm Inc., attended the forum with Lu. The National Development and Reform Commission confirmed in February that it is conducting an antitrust investigation into the U.S. mobile chip maker.
Jacobs refused to comment about the anti-trust probe but stressed that the company's cooperation with Chinese firms is important, mutually beneficial and has great potential.