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We will not adopt 'Buy Chinese goods' policy- Commerce Ministry
11
Feb '09
Mr Jiang Zengwei
Mr Jiang Zengwei
China will not adopt the 'Buy China goods' policy and “we will treat domestic and foreign goods equally, as long as there is demand”, said, Mr Jiang Zengwei, Vice-Minister, Ministry of Commerce. Recently the new US administration had adopted a similar resolution in its new stimulus package.

Jiang Zengwei pointed out that, every country should vigorously develop international trade, in order to meet the consumer demand for commodities or services. Under the premise of economic integration in the world, it cannot satisfy one own country's market demand by merely restricting production and sales within the country.

He said, more than 80 percent of China's raw material requirements are met by domestic production, but a considerable quantities of goods also need to be imported from global markets, which not only includes raw materials and luxury goods, but also agricultural products. China imports wheat and soybeans from the US, Canada and Australia to make up for the shortfall in domestic production.

In context of the international financial crisis, the provision of 'Buy American' is one of the symptoms of trade protectionism that is picking up pace among nations worldwide. Despite the rise of international trade protectionism, China still treats domestic goods and foreign goods equally, reflecting the responsible attitude of a big country.

Fibre2fashion News Desk - China

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