Highlights of Minister of Commerce Zhong Shan's press conference
Updated 11:01, 28-Jun-2018
[]
Zhong Shan, Minister of Commerce, held a press conference on China’s trade, structural adjustments and innovation on Saturday.
Zhong took office in late February. He was previously China's international trade representative, responsible for trade negotiations.
China has emphasized economic globalization and warned against trade protectionism in the world. The China-US trade relationship is a hot topic during the Two Sessions. Former Commerce Minister Gao Hucheng said in a panel discussion last week that China doesn’t want a trade war with the US, and that is not a rational choice for either side.  This is news text.
On foreign trade
The Ministry of Commerce will ensure stable progress in 2017, Zhong said. Taking measures to improve foreign trade is a very important task for China. Last year, the foreign trade of China volume reached US$3.69 trillion, which contributed to tax revenue and employment. Despite challenges and uncertainties, the Commerce Ministry will continue to focus on supply-side structural reform. Zhong is confident that the dream of a strong trade nation will be realized.
On trade between China and US
Some people from the US and western countries think China relies on the US. But the US depends on China at the same time. The two countries have a symbiotic relationship. A trade war between China and the United States would only cause pain without gain, Zhong said. Zhong looks forward to meeting his US counterpart Wilbur Ross.
On China-Philippines cooperation
Zhong said he visited the Philippines several days ago on his first official visit to the country, as he sought to strengthen the two countries’ ties. During Zhong’s visit, the 28th Meeting of the Philippines-China Joint Commission on Economic and Trade Cooperation was held in the capital Manila. The Chinese official and Philippine Secretary of Trade and Industry Ramon Lopez co-hosted the meeting, which was last held in August 2011. Last August, China and the Philippines decided to restart this mechanism and in October, Philippine President Rodrigo Duterte visited Beijing. Zhong expressed his belief that the two countries could make great contributions to each other.
On investment in Africa
Africa is our good friend and bother, and has achieved good development after its independence. The forum on China-Africa Cooperation was held in 2015.
On Belt and Road Initiative summit
The Belt and Road summit to be held in Beijing this May will be the highest-level event since the birth of the initiative. Over 100 countries and international organizations have expressed their support for the initiative, and more than 40 countries and international organizations have signed relevant cooperation agreements with China. The preparation is underway.
On domestic consumption
Ensuring supply, enhancing quality, reducing cost and encouraging innovation are the four goals to release the potentials of domestic consumption and strengthen this sector as an engine to economic growth.
On President Trump’s policies
Zhong said  “we are watching and waiting” US President Donald Trump's policies that might be of relevance to China, noting that US officials will make a right assessment to China-US trade cooperation. Zhong stressed that protectionism is not beneficial to any two countries.
On China-Russia cooperation
Russia and China are friendly neighbors, and both countries have kept good ties for many years. Good future for China-Russia cooperation could be expected.
On attracting foreign investment
Foreign Direct Investment to China grew in February despite a slump in January. It is not right to say foreign investment in China is seeing a downward trend. A report by the World Bank shows that the Chinese investment environment is getting better. It is known, the Chinese government is encouraging foreign investment.
5km