In an exclusive interview by CGTN, Commerce Ministry spokesman Shen Danyang said China still has much room for consumption growth and has great potential in the service industry. 

Consumption was a major engine of China’s economy in 2016, contributing 64.6 percent of China’s economic growth. According to Shen, there is further room for consumption growth in tangible products, such as consumer goods for daily use, while China’s supply-side structural reforms will help improve innovation and quality.

Shen suggested that competition from foreign imports could also spur domestic innovation, saying there is great potential for consumer growth within the services sector.

He also talked about cross-border e-commerce platforms, China’s investment in Africa, and China’s way to solve trade disputes.

Regarding the Electronic World Trade Platform (eWTP) proposed by Alibaba CEO Jack Ma during the G20 summit last year--a mechanism that would reduce barriers and act as an open platform for private enterprises--the spokesman said the eWTP would be established as a communication channel between enterprises and governments.

Most importantly, the platform fuels China’s e-commerce and transnational e-commerce worldwide at large, he said.

Shen said the Chinese government is in favor of the eWTP, as shown in the G20 Leaders’ Communique last year. 

This transnational platform would also be a supplementary dialogue channel under the WTO, and is a proposal worth discussing, according to Shen.

On March 8, Foreign Minister Wang Yi said there will be no weakening of China’s support for Africa, pledging greater support for the continent.

Shen said that China’s work in Africa benefits local communities, meets regional demands, creates jobs, increases tax revenue for local governments, and upgrades local industries.

Investment in Africa involves a wide range of areas, including agriculture, infrastructure projects such as railways and manufacturing, and the service industry, focusing on sectors such as logistics, catering and culture. Rebutting accusations that China is exploiting Africa’s natural resources, Shen said that less than 20 percent of China’s total investment in the continent has been in the mining industry.

From an economic point of view, Shen said China should not worry about the cost of trade frictions with other countries.

Investigations relating to trade remedy measures against China-involved goods were worth 14.6 billion US dollars in 2016, Shen noted. The figure may seem high, however it accounted for just 0.6 percent of the 2.1 trillion US dollars in exports the country registered that same year.

Shen said trade disputes could be solved under the framework of the WTO.

“We have won many cases from the WTO, so we will also use this as a main method in the future,” he said. “But at the same time, we also have other measures, and will safeguard our industries.”