Business
11:32, 25-Sep-2018
US benefits from trade with China: official
Updated
11:29, 28-Sep-2018
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08:18
There is no hard evidence that the US suffering losses in trade with China, Fu Ziying, China International Trade Representative and Vice Minister of Commerce, said in a press conference on Tuesday in Beijing.
The US claim of being at a disadvantage cannot stand up to scrutiny, he said, noting that the US enterprises and consumers get huge benefits from the trade and economic cooperation with China.
China and the US are at different positions in the global chain, therefore, the US has made huge profits through designing and retailing, while China is making thin profits through manufacturing work, according to Fu.
Although the statistics showed that China enjoys a surplus in trade with the US, in fact, the US gets benefits, he concluded.
China is willing to get the bilateral trade more balanced, and China expects positive attitude from the US, he said, adding that if the US lifts restrictions on exports to China, the trade deficit of the US will remarkably be reduced.