China-US Trade: China immediately implement consensus
Updated 20:34, 09-Dec-2018
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02:28
China says it will start implementing the specific aspects of the consensus made with the US as soon as possible. Over the next 90 days, economic and trade teams from both sides will follow a schedule and road map. CGTN's Liu Yang has more.
As the 90-day countdown begins, all details matter. The spokesperson of Ministry of Commerce Gao Feng says over the next 90 days, he is confident of getting consensus. The US and China will work toward the final goal that is the removal of all the additional tariffs.
GAO FENG, SPOKESPERSON MINISTRY OF COMMERCE "First, we start with agriculture, energy, automobiles, etc. We will implement the consensus on specific items achieved by both sides. Over the next 90 days, we will implement according to a roadmap and time table. We will hold consultations on intellectual property protection, technical cooperation, market access and trade balance, which are in the interest of both sides and have common needs. Both sides should strive to reach consensus."
Specifically, consultations will continue in the fields of agricultural products, energy, manufactured goods and services. China will hold consultations with the US on these issues on the basis of mutual respect, equality and mutual benefit to create better business environments in both countries.
GAO FENG, SPOKESPERSON MINISTRY OF COMMERCE "China and the US, as well as companies of the two countries, share the same aspiration in protecting IP rights, promoting fair competition and relaxing market access, which is highly consistent with China's consistent direction of deepening reform and opening up."
A total of 38 Chinese government agencies have signed a memo of cooperation for joint efforts to strengthen punishment for IP infringements. This can be seen as the beginning of Beijing's swift implementation of the consensus.
LIU YANG BEIJING "Regarding expanding market access, experts point out that China has been emphasizing greater openness this year. The country will further reduce tariffs and relax restrictions on foreign shares in education, healthcare and other sectors. Over the next 15 years, imports of goods are expected to exceed 30 trillion US dollars, and imports of services, 10 trillion US dollars. Liu Yang CGTN Beijing."