The European Commission's viewing of China as a state capitalism follower goes against the facts, said China's Ministry of Commerce (MOFCOM) Friday.

On February 18, the European Commission issued a comprehensive new document titled An Open, Sustainable and Assertive Trade Policy, which explains the European Union's stances and propositions on trade policy. 

"In the document, the EU continues to advocate multilateralism and a rules-based international order, as well as a trade policy that supports openness and further contact. We appreciate it saying that it will continue to give weight to the economic and trade ties with China," said the MOFCOM.

"Meanwhile, it must be pointed out that the European side's claim that China pursues a unique model of national capitalism and poses a challenge to the existing global economic governance system does not conform to the facts. It is groundless to blame the WTO crisis on China's failure to transform into a market economy. We are firmly opposed to this," the commerce ministry said.

China is building a socialist market economy in all respects to ensure better integration of the roles of the market and the government in resource allocation. The practice has proved that China's economic governance mechanism conforms to its reality and contributes more and more Chinese wisdom to global economic governance, it said.

China has always been an active participant, staunch supporter, and consequential contributor to the World Trade Organization (WTO), said the MOFCOM, adding unilateralism and protectionism are the root causes of the current WTO crisis. 

"As the WTO is facing severe challenges, China and the EU should join hands to maintain and develop the multilateral trading system, ramp up efforts conducive to upholding the authority and representativeness of the multilateral trading system, and do more that is conducive to strengthening unity and trust among WTO members," it said.

"The Chinese side also noted that the EU is poised to adopt tougher restrictions on foreign investment review, export control, government procurement and subsidies per the new trade policy documents. We hope that the EU will beef up policy transparency, stick to principles of fairness, justice and non-discrimination, and avoid hindering normal international trade and investment." 

China and Europe are partners, not rivals, and cooperation between the two far outweighs the competition, the statement continued. The varying social systems and economic models of the two sides never get in the way of developing mutually beneficial cooperation, the ministry said.

China is willing to continuously strengthen dialogue and cooperation with the European side and properly handle differences, so as to promote the long-term, stable and sound development of China-EU relations. 

"We hope the EU will continue to adhere to free trade and multilateralism, jointly resist unilateralism and protectionism with China, and prompt the early recovery of the global economy," said the MOFCOM.

(Cover via CFP)