Ministry Of Commerce: China Advocates G20 Will Not Take Protectionist Measures

Ministry of Commerce: China's initiative

No trade protectionist measures will be extended until 2018.

Zhang Shaogang, director of the international division of Ministry of Commerce, 30, at G20

The high level of trade protection measures is an important reason for the slowdown in Global trade, a press conference of the Council of ministers said.

As the host country of this G20 summit, China advocates G20 to extend its commitment to trade protectionist measures until 2018.

It includes two aspects, one is to promise not to adopt new trade protectionist measures, and the two is to gradually reduce and cancel the trade restrictive measures that have been adopted.

Zhang Shaogang said China called on Member States to strictly implement every new trade protection measures needed.

The obligation of notification also continues to authorize the WTO, OECD and the joint China World Trade Center conference to issue two monitoring reports each year to form supervision pressure on trade protectionism.

In recent years, Global trade growth has generally slowed down, and the growth rate of Global trade is less than 3% in the past fourth years.

Zhang Shaogang said that opposition to trade protectionism is a historic commitment of G20 leaders. But in reality, the protection measures of some major economies have not stopped.

According to the WTO, OECD and joint China World Trade Center conference regularly issued a monitoring report on trade protectionism measures for G20 members, from October 2015 to May this year, G20 trade protectionism has risen.

During this period, the average number of new restrictive measures taken by G20 members was 21 per month, the highest monthly number since 2009.

In the era of economic globalization, trade protection is not only bad for world economic growth, but also a shadow for Global trade development.

Zhang Shaogang pointed out that as a representative of the world's major economies, G20 should shoulder the responsibility of promoting global economic recovery and growth.

Through the above initiatives, China hopes to join G20 in strengthening trade protectionism and promoting global trade as soon as possible.