Zhong Shan, minister of commerce takes questions at a press conference on the sidelines of the first session of the 13th National People's Congress in Beijing March 11, 2018. [Photo by Xu Jingxing/chinadaily.com.cn]
In order to become a strong trader, China must take the road of high-quality development
China is a big country in economics and trade in view of its leading indicators in consumption, trade, foreign direct investment and overseas direct investment, but it is far from a strong trader. In order to become strong, China must stick to innovation and take the road of high-quality development.
Before 2020, China should consolidate its position as a big trader. The goal of becoming a strong trading nation should be basically realized by 2035 and be accomplished in all respects by 2050.
Six major tasks and eight action plans
China has formulated six major tasks and eight action plans to promote high-quality development of economics and trade in the coming five years.
In the coming five years, there are six tasks to fulfil -- strengthen the fundamental function of consumption in economic growth, improve the competitiveness of foreign trade, boost two-way investment levels, optimize regional opening-up pattern, form new international economic and trade relations and make commerce activities better serve people's livelihood.
China has also made eight action plans, including consumption upgrading, becoming a powerful trading country, promotion of foreign investment, overseas investment innovation, improvement of comprehensive efficiency of international assistance, cooperation under the Belt and Road Initiative, multilateral regional economic and trade cooperation as well as poverty alleviation by commerce.
China doesn't want a trade war; trade competitiveness is determined by industries
Trade wars leave no winners, only disastrous outcomes for the two countries and the rest of the world.
China doesn't want a trade war with the United States and will not start one, but can handle any related challenges and will defend national and Chinese people's interests.
Trade imbalance between the two countries is structural, with China exporting more commodities to the Unites States while importing more services. Trade competitiveness is determined by industries.
China would like to solve differences via cooperation and seek win-win outcomes to benefit the two countries and help stabilize global economy.
Bilateral free trade agreements will help boost multilateral trade negotiations.
The Belt and Road Initiative is open, inclusive and transparent