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Expert Seminar Of Ministry Of Commerce: China's Counter Measures Are Rational And Beneficial.

2019/8/27 13:31:00 154

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Sino US Trade Ministry Of Commerce Expert Seminar

In August 23rd, the Customs Tariff Commission of the State Council issued two announcements. First, it announced the decision to impose tariffs on imported goods originating in the United States, and two announced that it decided to impose tariffs on motor vehicles and parts originating in the United States. Two In August 25th, the international trade and Economic Cooperation Institute of the Ministry of Commerce held an expert seminar on Sino US economic and trade relations. Experts attending the meeting believe that China's counter measures are rational, beneficial and joint. In view of the US side's unilateral provoking and upgrading of economic and trade frictions, China is fully capable of staying firmly in the end.

Extreme pressure and intimidation and blackmail will not do anything to China.

"The extreme pressure and intimidation of the US side will not have any effect on China. Gu Xueming, the party secretary and President of the Ministry of Commerce and international trade and Economic Cooperation Research Institute, said that the US side claimed that the impact of economic and trade frictions on China was larger than that of the United States. However, from the tracking data, the result is the opposite. The economic and trade frictions have a relatively greater impact on the US export to China. China is still the most preferred destination for most foreign enterprises, especially manufacturing enterprises.

Jin Xu, President of the China Association of international trade, believes that the practice of the United States has disrupted the normal international order. Since August 15th, a series of measures that have been intensified by the US side have greatly worried American consumers, and also led to several sharp drops in the stock market in the United States.

"The consequences of tariffs imposed by the United States on goods exported to China are mostly borne by consumers and producers in the United States. Li Wei, director of the Institute of American Oceania studies of the Ministry of Commerce, said that the yield of us ten and two-year bonds had been upside down. The latest manufacturing Purchasing Managers Index in August has been less than 50. These data confirm that American behavior is harmful to others.

"There is no winner in the economic and trade frictions, and the impact on the US will be bigger and bigger. Cui Weijie, director of the Institute of industrial internationalization strategy of the Ministry of Commerce, believes that the economic and trade frictions are destroying the global industrial chain, not only by Chinese enterprises, but also by all enterprises in the industrial chain. From the perspective of the whole industry chain, American enterprises are at the top of the industrial chain, and the most influential ones are American enterprises. With the expansion of the attack area, the consumption cost of American residents has increased, and the negative impact has spread from enterprises to every family, and the impact will be bigger and bigger.

"The United States ignores the facts and adopts irrational measures to stir up and escalate economic and trade frictions and put pressure on China. The counter measures adopted by China are rational, advantageous and meaningful. Sang Bai Chun, Dean of the Institute of international economics, University of International Business and Economics.

Li Wei said that the Chinese side's attitude is resolute. In the face of economic and trade frictions, we do not want to fight, we are not afraid to fight, and we have to fight when necessary.

Cui Weijie said that China's list is thoughtful, and the counter list can reduce the impact on domestic production and people's lives as far as possible. For example, the import of drugs and equipment from the United States will not be subject to customs duties.

China is confident, competent and capable of dealing with all kinds of risks and challenges.

Gu Xueming said that in the first half of this year, China's economy continued to develop steadily and steadily, and its stability and toughness increased significantly, and the quality and efficiency of development continued to improve. The fundamentals of China's long-term economic development have not changed, nor will they change. They are confident, competent, capable of coping with all kinds of risks and challenges, and will continue to maintain stable and healthy economic development.

"China has entered the stage of domestic demand leading economic growth, and economic and trade frictional pressure capacity has been greatly enhanced. Dong Chao, director of the circulation and Consumption Research Institute of the Ministry of Commerce, said the contribution rate of consumption to economic growth in the first half of the year was 60.1%, and consumption has been the first driving force for China's economic growth for five consecutive years. The pattern of coordinated growth of consumption, investment and exports has gradually taken shape, and the endogenous driving force of economic development has been significantly enhanced.

"China has an efficient and complete supply chain system which is difficult for other countries to replace and compete. Lin Meng, director of the Modern Supply Chain Research Institute of the Ministry of Commerce, said that many trade associations and enterprises in the United States believed China was an irreplaceable part of the global supply chain at the tariff hearing held last year by the office of the United States trade representative. It is very difficult to move the production line out of China.

"China's solid economy and manufacturing base are quite solid. "Most foreign enterprises, including American companies, are reluctant to give up China's huge market," Sang Sang said. Foreign investment in China has continued to increase, and foreign enterprises are still optimistic about the prospects for development in China.

Cheng Hui, director of the Institute of trade and investment security of the Ministry of Commerce, believes that in the face of trade wars, China is not afraid to fight because China has a huge domestic market, a backwardness in technological innovation, and an adequate talent pool. China should shoulder the short-term pressure brought by economic and trade frictions and accelerate the development of high quality economy.

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