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Ministry of Commerce: Confident to maintain the steady and positive momentum of China's foreign trade

  • Categories:Industry News
  • Author:Xinhuanet
  • Origin:
  • Time of issue:2020-09-15
  • Views:

Ministry of Commerce: Confident to maintain the steady and positive momentum of China's foreign trade

  • Categories:Industry News
  • Author:Xinhuanet
  • Origin:
  • Time of issue:2020-09-15
  • Views:

Xinhua News Agency, Beijing, August 30 (Zhang Chi Yu Jiaxin) Gao Feng, a spokesperson for the Ministry of Commerce, said on the 30th that the Ministry of Commerce will continue to improve the level of trade facilitation in response to the impact of US tariffs on Chinese products exported to the United States. Actively expand imports and other measures to respond, and have confidence in maintaining the momentum of stable and positive foreign trade.

The U.S. tariffs on US$50 billion of Chinese goods have all been implemented. The entry into force of tariffs has led to a decline in the prices of some U.S. export products and an increase in the prices of imported consumer goods. At the same time, imports of industrial intermediate goods required by some U.S. companies have also been affected. Some Chinese foreign trade companies have also been affected.

Gao Feng said at a regular press conference held by the Ministry of Commerce that day that everyone is thinking of ways to deal with this, especially through transformation and upgrading, and strive to transform challenges into opportunities to realize the long-term development of the company.

Gao Feng said that we will continue to improve the level of trade facilitation, and under the premise of complying with WTO rules, we will introduce targeted policies and measures to safeguard the legitimate rights and interests of all types of enterprises including foreign-funded enterprises in China. At the same time, we will make every effort to host the first China International Import Expo and actively expand imports to better meet the production and living needs of domestic enterprises and residents. "We are confident to maintain the momentum of stable and positive foreign trade."

Thanks to my country’s continuous expansion of opening-up measures, since this year, the United States, the United Kingdom and other countries have increased their investment in China, injecting new vitality into the development of my country’s foreign trade enterprises. In the first seven months of this year, my country newly established 35,239 foreign-invested enterprises, a year-on-year increase of 99.1%.

In response to the recent strengthening of security investment reviews by individual countries, Gao Feng said that China is concerned about this and will closely follow the development of the situation and assess the impact of relevant national measures on China’s foreign investment.

"This is likely to cause global investors to worry about the country's investment environment, especially concerns about the abuse of security reviews." Gao Feng said that the general trend of Chinese companies going out will not change and achieve mutual benefit and common development with the host country. Aspirations will not change, and efforts to promote global economic growth and benefit the people of the host countries will not change.

Gao Feng said that the Ministry of Commerce will continue to encourage and support qualified, reputable, and powerful Chinese companies to go global, carry out outbound investment in accordance with market principles and international practices, continue to promote investment liberalization and facilitation, and safeguard Chinese companies’ investment in destination countries. The legitimate rights and interests create an open and fair competitive environment for enterprises.

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