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SCIO briefing on China's position on economic and trade consultations with US

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Speaker:
Wang Shouwen, vice minister of the Ministry of Commerce, deputy China international trade representative

Chairperson:
Guo Weimin, vice minister of the State Council Information Office

Date:
June 2, 2019

CNN:

It has been noticed that China's comments or stance have become increasingly tougher. While talking about the trade war, officials and media outlets have all mentioned the rare earths issue. And, China announced its "unreliable entity list" on Friday. Some Americans say China remains vague on the list, which gives the Chinese government an opaque means to attack U.S. giants in science and technology, as well as other enterprises. The Chinese media also mentioned FedEx. After Huawei's senior executive was detained in Canada and China detained two Canadian citizens in China, some people feel that the Chinese government will take similar measures targeting at U.S. companies in China as well as American citizens. Some Americans worry about their commercial and investment interests, as well as their personal safety in China. How do you respond to these? Could you clarify and explain China's strategies and tactics in the future trade war? Thank you.

Wang Shouwen:

Thanks for your questions. China's stance on trade frictions is crystal clear - China is not willing to fight, but does not fear fighting. As to what you have said, we think, some of it is being over-interpreted. For instance, as for the FedEx incident, China welcomes foreign enterprises that abide by laws in their operation in China. However, if they violate Chinese laws, we should conduct investigation according to the law. China has just passed its Foreign Investment Law, and stresses that all Chinese and foreign investors in China will be treated equally without discrimination, and foreign investors' lawful rights and interests can be well protected. In this regard, people should feel well assured. However, all companies must abide by Chinese laws, respect Chinese laws, and do business under the framework of Chinese laws.

As for the unreliable entity list, my colleagues have explained about this the day before yesterday. It mainly targets those enterprises, organizations and individuals that violate market principles, the spirit of contracts, block or cut supplies to Chinese firms for non-commercial reasons, and that in some way violate the legal rights and interests of Chinese enterprises, and harm China's national security and public interests. These entities will be added to the list. The purpose is to protect stable, equitable and sustainable trade order between enterprises. So, there is no need to exaggerate this point. Thanks.