China: People with common sense will not agree on US new report

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People with common sense about history of modern economic globalization and the principle of technology spillover between economies will not agree with the US new report where the US claims China’s "economic aggression" is a global threat, said Chinese Ministry of Commerce.

The report ignored the contract spirit based on commercial principles as well as the historical fact of mutual benefit and win-win cooperation between Chinese and American companies, the Ministry’s spokesman Gao Feng said in a regular press conference on Thursday.

“China’s 40-year reform and opening up has provided Chinese enterprises and all foreign-funded enterprises in China with huge market and institutional conditions, and China has become one of the destinations with the world's most foreign direct investment,” said Gao.

“China will continue to support and participate in the process of economic globalization in accordance with the established pace of reform and opening up. We welcome investors from all over the world to invest in China and share the fruits of China’s development,” said Gao.

China to seek consensus on market access with EU

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China will strive for consensus on market access in the 20th round of talks on investment agreement with EU, according to Gao.

The two sides will take a more open, flexible and pragmatic approach to promote new progress in the talks. Both believe that a comprehensive and ambitious investment agreement is in their common interest.

China and EU have reached consensus on improving global economic governance, safeguarding the multilateral trading system, promoting the liberalization and facilitation of trade and investment in the latest China-EU high-level economic and trade dialogue.

Both also agreed to strengthen cooperation in the digital economy, e-commerce, recycling economy, agriculture, finance, as well as in preventing white pollution, coping with climate change, making full preparations for the 20th round of China-EU leaders’ meeting.

The two sides believe that unilateralism and trade protectionism must be firmly opposed, and that the WTO-based, rules-based multilateral trading system must be jointly safeguarded. Both agreed to promote the economic globalization that is more open, inclusive, balanced, and mutually beneficial.

China and EU have so far held 17 rounds of talks on investment agreement, and the 18th round of talks is scheduled in the near future.