China’s development relies on reform and opening-up: MOC
By Wang Ke, People’s Daily
China relies on reform and opening up to achieve economic development, said Chinese Ministry of Commerce (MOC), responding to the US rhetoric that China’s development is attributed to investment from the US.
The US remarks ignore facts about China-US economic and trade cooperation and mislead the public, MOC spokesperson Gao Feng said at a regular press conference on Thursday.
China has accumulatively utilized foreign capital of more than $2 trillion since 1987 when the country started keeping statistics on foreign investment. Investment from the US was $81.36 billion, accounting for 4.06 percent, according to the MOC.
“We never deny that investment from the United States helps China’s development, but the country’s development ultimately relies on its opening-up and reform and the endeavors of its people,” said Gao.
China has continued to open its market to the world based on the principles of mutual benefits and win-win results after the reform and opening-up, said the spokesperson, adding that the country’s contributions to the world’s economic and trade growth are evident.
China has contributed to more than 30 percent of global economic growth every year on average since 2013, according to the International Monetary Fund.
Figures by the World Trade Organization (WTO) indicate that from 2001 to 2017, the proportion of China’s imports of goods in global imports increased from 3.8 percent to 10.2 percent, while the share of the country’s imports of trade in services rose from 2.7 percent to 9.1 percent.
Gao pointed out that China had always abided by rules and principles of the WTO and urged the US not to find excuses for promoting unilateralism and protectionism, in response to Washington’s accusation of China adopting the so-called policies against free and fair trade.
He suggested the US be constructive in taking effective measures to maintain the sound development of China-US economic cooperation and secure a global economic recovery.
The US initiated and continuously escalated trade frictions with China while China doesn’t want a trade war for the sake of protecting the bilateral economic and trade cooperation, the spokesperson stressed.
China’s original intention to maintain healthy development of China-US relations has not changed, and the determination to defend its own legitimate rights and interests will not change either, Gao said.
The “bullying and extreme pressure” from the US would be futile, he said, adding that the US probably has got used to exert influence on another country’s economy through its so-called self strength, but upgrading trade frictions will do no good to resolving differences.
Meanwhile, China’s economy keeps steady growth with progress and sound momentum from an overall perspective, and is marching toward high-quality development with rapid growing new driving forces, the spokesperson noted.
