Trade Protectionism Seriously Affected the Steady Development of Economic and Trade Relations
Source: MOFCOM Date: 2010-02-04
In January, the U.S. decided to impose high anti-dumping duties on imports of electric blankets and wire trays from China and initiated an anti-dumping and anti-subsidy investigation on imports of Chinese steel drill pipes. On February 1, Yao Jian, the Spokesman of the Ministry of Commerce of China, stated that since the outbreak of the financial crisis, the U.S. trade protectionism had been apparently on the rise, and China had become the biggest victim of the U.S. abuse of trade relief measures. Currently, the U.S. protectionism has seriously affected the steady development of the bilateral economic and trade relations. And the U.S. should realize such seriousness and fulfill their commitments to stop abusing trade remedy measures and trade protectionism so as to maintain the Sino-U.S. economic and trade relations.
Yao said a recent accusation by a senior US commerce official that China has set barriers against foreign investment was totally contrary to the facts.
China is the third largest export market of the U.S., and has been the fastest growing one for years. When coping with the financial crisis, China's focus is expansion of domestic demand and adherence to open market. In 2009, U.S. exports to China reached $77.4 billion, Sino-U.S. trade deficit down by 16 percent. According to Yao, absorbing foreign investment is part of China's basic state policy of opening-up, foreign investment enterprises in China, as the important part of the national economy, were Chinese enterprises set up according to China's laws. China has always been making efforts to provide a more open and more optimized investment environment for domestic and foreign investors so that China is one of the most attractive destinations for investment in the world. Moreover, a series of policies and measures were established in the recent executive meeting of the State Council so as to open its door wider to the outside world and improve the use of the foreign capital. Such policies and measures must provide more favorable conditions for foreign investors in China.
Additionally, Yao emphasized that some countries themselves resorted to trade protectionism, but turned around and accused others, which was not only unreasonable but also not good for its own economic recovery.
Yao said a recent accusation by a senior US commerce official that China has set barriers against foreign investment was totally contrary to the facts.
China is the third largest export market of the U.S., and has been the fastest growing one for years. When coping with the financial crisis, China's focus is expansion of domestic demand and adherence to open market. In 2009, U.S. exports to China reached $77.4 billion, Sino-U.S. trade deficit down by 16 percent. According to Yao, absorbing foreign investment is part of China's basic state policy of opening-up, foreign investment enterprises in China, as the important part of the national economy, were Chinese enterprises set up according to China's laws. China has always been making efforts to provide a more open and more optimized investment environment for domestic and foreign investors so that China is one of the most attractive destinations for investment in the world. Moreover, a series of policies and measures were established in the recent executive meeting of the State Council so as to open its door wider to the outside world and improve the use of the foreign capital. Such policies and measures must provide more favorable conditions for foreign investors in China.
Additionally, Yao emphasized that some countries themselves resorted to trade protectionism, but turned around and accused others, which was not only unreasonable but also not good for its own economic recovery.
