China welcomes the presence of Nvidia and aims to build a better business environment for foreign firms, its vice commerce minister told an executive of the U.S. chip maker at a meeting in Beijing on Monday.

Chinese Vice Commerce Minister Wang Shouwen said on Monday that China supports efforts by US chip maker Nvidia to continue to take root in China, and pledged to create a more favorable environment for foreign companies.

Beijing's top trade negotiator met the head of Nvidia's global business operations on Monday, ahead of an expected escalation of US restrictions on China's semiconductor industry, which reportedly could come as soon as this week.

Wang Shouwen, China's vice commerce minister, met with Jay Puri, an executive vice president of Nvidia's worldwide field operations, in Beijing on Monday, China's Ministry of Commerce said.