Chinese VP: China firmly opposes unilateralism, trade protectionism

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China calls for proper settlement of international issues based on rules and consensus and stands firmly against unilateralism and trade protectionism, Chinese Vice President Wang Qishan said on Tuesday at the Bloomberg New Economy Forum held in Singapore.

"As a staunch supporter of the multilateral trading regime, China will implement trade and investment, liberalization and facilitation policies of high standards," said Wang.

Wang said China will remain committed to its policy of opening up and creates more development opportunities for the world. "Guided by the principle of consultation, cooperation and benefits for all, China will work to promote the Belt and Road Initiative for the benefit of the people along the route."

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Trade and economic cooperation remain the anchor and propeller for China-US relations

Wang said the world today faces many problems that require close cooperation between China and the United States, and trade and economic cooperation remain the anchor and propeller of a steady and health China-US relationship.

"China and the US will both gain from cooperation and lose from confrontation. The relationship will have a direct impact on global stability and development," said the Vice President.

"The Chinese side is ready to have discussions with the US on issues of mutual concern and work for a solution on trade acceptable to both sides."