China eases procurement policy

China has softened its stance on government procurement by allowing foreign companies to bid for technology contracts, the Financial Times reported. The Ministry of Science and Technology said any company whose products conformed with Chinese laws, regulations and China’s technology policy could bid for government contracts under rules on "indigenous innovation." The move highlights an easing of tensions between China and its trading partners. Foreign firms had said that earlier requirements covering local intellectual property, local brands and independence from overseas influence would make it unfeasible to bid in government tenders for hi-tech equipment.