China : Govt lambasts US trade protectionism measures

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Home / Knowledge / News / Textiles / Govt lambasts US trade protectionism measures

Govt lambasts US trade protectionism measures

03
Feb '10

A spokesman of China Ministry of Commerce issued a statement on February 1, saying that the current trade protectionism has a serious impact on the stable development of Sino-US economic and trade relations.

He said that the United States should fully understand the seriousness of the problem, it should fulfill its commitments, do not abuse trade remedy measures, do not engage in trade protectionism, but earnestly safeguard the overall situation for Sino-US economic and trade relations.

Mr Yao Jian refuted the remarks of the US Department of Commerce which accused the Chinese government of setting up barriers in market opening and foreign investment and said that the statement is entirely contrary to the facts.

According to him, China is the third largest export market of the United States, and is also the fastest-growing export market of the US since many years. Quoting from statistics, he said, US exports to China reached US $77.4 billion in 2009, leading to an increase in its export share.

He said that absorption of foreign investment is an important part of China's basic national policy of opening up to the outside world. Foreign-invested enterprises in China are established in accordance with Chinese law, and are considered important components of China's national economy.

The executive meeting of China's State Council has specially studied and identified a series of policy measures to further expand opening up, improve utilization level of foreign investment, which are bound to create more favorable conditions for foreign investors to invest in China.

Yao Jian stressed that trade protectionism in the US has increased clearly after the financial crisis and China has become the biggest victim of its abuse of trade remedy measures. Some people are trying to shift domestic conflicts and economic problems in the United States to other countries, which do not help.

It is learned that since January 2010,the United States has ruled and imposed high anti-dumping duties on Chinese-made wire mesh pallets and electrothermal blankets, meanwhile it has also launched anti-dumping countervailing investigation on China-made drill pipes.

Fibre2fashion News Desk - China

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