Press briefing on foreign trade
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E-mail China.org.cn, May 20, 2014
Dragon TV:
Chinese firms were the main targets of the recent anti-foreign violence in Vietnam. What effect do you think these events will have on economic cooperation between China and Vietnam?
The Shanghai Free Trade Zone (Shanghai FTZ) has been open for more than six months, and a new Negative List has been submitted to the Ministry of Commerce. When will the list be approved? What are its key features?
Zhang Ji:
The recent outburst of violent protests against foreign investors and enterprises in Vietnam has resulted in many casualties and economic losses, and has particularly affected Chinese citizens. The Chinese government has strongly condemned the attacks and has made solemn representations to the Vietnamese government, requesting it to adopt immediate, effective measures to put an end to the violence, protect Chinese citizens, enterprises and property, make immediate arrangements to shelter those displaced by the violence, and spare no efforts to treat the injured. China has also demanded that the Vietnamese authorities launch an investigation into the violence, punish those responsible, and compensate Chinese citizens and enterprises for their losses.
In recent years, trade between China and Vietnam has expanded rapidly. According to China's Customs, bilateral trade was US$65.48 billion in 2013, up 30 percent from 2012. For many years, China has been Vietnam's largest trade partner. This situation is the result of sustained efforts on both sides. But the violent protests have caused huge economic losses to Chinese and other foreign enterprises in Vietnam. If the situation deteriorates further, the feelings of the Chinese people will be badly hurt, and enterprises in both countries will lose confidence in doing business with each other. This will undermine the sustainable and healthy development of China-Vietnam trade relations. China does not want to see such an outcome, which would also badly affect Vietnam's economy. Therefore, the Chinese government has solemnly requested and required that the Vietnamese government addresses these events properly, ensures there is no reoccurrence, and takes practical actions to compensate Chinese enterprises for their losses.
Now let's talk about the Shanghai FTZ. The FTZ has drawn a great deal of attention from the media. Currently, the Shanghai municipal government and all departments concerned with the FTZ are promoting its development with an innovative, enterprising and open-minded approach. The work is being carried out in an orderly way, and many successes have already been achieved. Regarding the Negative List and related measures, the competent authorities are actively working on them. There will be more favorable policies and measures announced regarding investment, trade and other issues. We firmly believe that our efforts will bring about great results.
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