SCIO Holds Press Conference on White Paper on China-US Trade Friction
SCIO Holds Press Conference on White Paper on China-US Trade Friction

(Yicai Global) Sept. 25 -- The Information Office of the State Council (SCIO) is holding a press conference to discuss a white paper on the Chinese government's position regarding trade frictions with the US.

The white paper was published Monday to clarify the facts about China-US economic and trade relations, demonstrate its stance on trade friction with the US, and pursue reasonable solutions.

Representatives from the country's top planning agency, the intellectual property office, as well as the Chinese ministries of Commerce, Finance, and Industry and Information Technology, are expected to answer questions from the media.

Fu Ziying, China international trade representative and vice minister of Commerce, stressed the importance of China-US trade relation with the global world economy as the world's largest developing country and developed country.

Fu noted that it is natural for the two countries to have differences considering they are at different stages of development but called for enhancing mutual trust and managing difference.

Fu warned, however, that China does not want a trade war but won't be afraid of one as the US has pursued unilateralism, protectionism and restricted trade.

Claim of US 'Losing' in Trade Relations With China 'Groundless'

The so-claimed US "losing" in trade relations with China is groundless and misleading, the two countries' trade cooperation is complementary, where common interests far outweigh differences.

Fu pointed that the differences in multiple factors including economic structure and global division of labor all contributed to trade deficit between the two countries, but China is willing to work hard to promote bilateral trade in a more balanced direction and hopes that the US can also show a positive attitude.

"The momentum of economic globalization is unchangeable, and the trend of China-US economic cooperation is irreversible," Fu said.

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Keywords: US , Trade Friction