Economic globalization is the trend of the times, and peace and development represent the shared aspiration of all peoples. It therefore runs counter to the historical trend when one simply blames economic globalization for the problems in today's world and one's domestic development, and attempts to bring the global economy back to the old days of isolation by pursuing trade and investment protectionism. China-US economic and trade ties concern not only the well-being of the peoples of the two countries, but also world peace, prosperity and stability. Cooperation is the only correct option for China and the US, and only a win-win approach will lead to a better future. China's position is clear, consistent and firm.
1. China is firmly committed to safeguarding its national dignity and core interests.
It is the hope of the government and people of China to promote business cooperation and develop stronger ties with the US. China does not want a trade war, but it is not afraid of one and will fight one if necessary. We have a highly resilient economy, an enormous market, and the hard-working, talented and united Chinese people. We also have the support of all countries in the world that reject protectionism, unilateralism and hegemony. We have the confidence, resolve and capability to meet all risks and challenges. No external factor will hold back China's development. Meanwhile, the worst-affected Chinese companies and sectors will receive assistance as needed.
China maintains that problems and disputes arising from a fast growing China-US business relationship should be addressed with a positive and cooperative attitude, through bilateral consultation or the WTO dispute settlement mechanism, in a way acceptable to both sides. China has kept the door to negotiations open, but negotiations can only happen when there is mutual respect, equality good faith and credibility. Negotiations cannot be conducted under the threat of tariffs, or at the cost of China's right to development. We believe that mature political leaders in the US will eventually come back to their senses, see China-US economic and trade relations in an objective and comprehensive light, and redress misguided behaviors in time so that the efforts to resolve the trade friction between the two countries will come back to the right track.
2. China is firmly committed to the sound development of China-US economic and trade relations.
The US and China are the world's top two economies. Trade friction between the two countries should be properly resolved as it bears on global economic stability and prosperity as well as world peace and development. For China and the US, cooperation can lead to mutual benefits while confrontation will do no good to anyone. The sound and steady development of China-US economic and trade relations is in the fundamental interests of the two peoples and the common interests of people across the globe, and is what the international community expects of us. China would like to work with the US in the same direction, act in a spirit of mutual respect and win-win cooperation, focus on economic and trade cooperation, properly manage economic and trade differences, and make vigorous efforts to foster a new China-US economic and trade order that is balanced, inclusive and mutually beneficial, so as to contribute to the well-being of the two peoples. Under the condition of equality and mutual benefit, China is willing to resume negotiations with the US on a bilateral investment treaty, and launch bilateral FTA negotiations when appropriate.
3. China is firmly committed to the reform and improvement of the multilateral trading system.
The multilateral trading system centered on the WTO is the cornerstone of international trade, and a pillar for the sound and orderly development of global trade. China is firm in observing and upholding the WTO rules. China supports an open, transparent, inclusive and non-discriminatory multilateral trading system, and supports the reform of the global trade statistics system based on the global value chain and value-added in trade. China supports necessary reform of the WTO and firmly opposes unilateralism and protectionism. Committed to pursuing open, integrated and win-win development, China is working to build an open world economy, enhance cooperation within the G20, APEC and other multilateral frameworks, promote trade and investment liberalization and facilitation, and make economic globalization more open, inclusive, balanced and beneficial to all.
4. China is firmly committed to protecting property rights and intellectual property rights (IPR).
China attaches great importance to IPR protection and views it as one of the most important part of the efforts to improve the system for property rights protection. China will keep improving its laws and regulations on IPR protection, enhance the quality and efficiency of IPR reviews, and introduce the system of punitive damage compensation for intentional IPR infringements to significantly raise the cost of law violations. China protects the lawful IPR of foreign businesses in strict accordance with the law, and takes stern measures to address all types of IPR infringement cases. Chinese courts will keep improving the litigation evidence rules for IPR cases, establish a damage compensation system that reflects the value of IPR, strengthen the IPR court system, advance the building of a national-level appeal mechanism for IPR cases, ensure unified judicial criteria, and modernize the IPR adjudication system and capability at a faster pace. China will enhance its cooperation with all countries to protect IPR, and hopes that governments of other countries will also step up their efforts to protect Chinese IPR. China believes that IPR disputes should be resolved through legal means, and opposes trade protectionism pursued by any country in the name of IPR protection.
5. China is firmly committed to protecting the lawful rights and interests of foreign businesses in China.
China is committed to building an open and transparent foreign-related legal system, improving the business environment, and providing better, higher-quality service to businesses from all countries operating and investing in China. China respects international business practices, observes the WTO rules, and treats all businesses registered in China equally. China encourages market entities including foreign businesses to engage in various forms of cooperation, and stands committed to creating a level playing field in the market. The Chinese government pays close attention to the legitimate concerns of foreign investors, and stands ready to respond to and address their specific concerns. China will always protect the lawful rights and interests of foreign investors and foreign-invested businesses, and take firm measures to address violations of their lawful rights and interests in accordance with the law.
6. China is firmly committed to deepening reform and widening opening-up.
Reform and opening-up are China's basic policies, and provide fundamental driving force for its development. China will not reverse course, but only deepen its reform. China will not close its door to the world, but only open wider. Following the plans made and pace set, China will stay firmly committed to deepening reform and widening opening-up, advance the rule of law across the board, and build a socialist country under the rule of law. The market will play a decisive role in the allocation of resources and the government will play a better role to encourage competition and oppose monopoly. Like other countries, China has the right to choose its own development path, including the economic model, that suits its national reality. As a developing country, China is not perfect, but it is willing to draw on advanced experience and keep improving its systems, institutions and policies through reform and opening-up. China will manage its own affairs well, firmly implement an innovation-driven development strategy, accelerate the pace of modernizing its economy, and pursue economic development with higher quality. China is willing to share with other countries the new opportunities presented by its development. China will adopt policies to promote trade and investment liberalization and facilitation with higher standards, implement the system of pre-establishment national treatment plus a negative list across the board, significantly ease market access, further open up the service sector, further cut tariffs, build a transparent, efficient and fair business environment, develop an open economy at a higher level, and create a more attractive investment environment. In this way, China will share development and prosperity with all countries that aspire to progress.
7. China is firmly committed to mutually beneficial cooperation with other developed and developing countries.
China will work with the EU to expedite and strive for early consensus in the negotiations on the China-EU Investment Agreement, and, on this basis, take the China-EU FTA onto the agenda. China will accelerate negotiations on the China-Japan-ROK Free Trade Area and work for early conclusion of the Regional Comprehensive Economic Partnership (RCEP). China will promote deeper cooperation under the framework of the Belt and Road Initiative based on the principles of consultation, cooperation and benefit for all, and make efforts to achieve policy, infrastructure, trade, financial, and people-to-people connectivity and create new drivers for common development.
8. China is firmly committed to building a community with a shared future for mankind.
Faced with a host of grave challenges to human progress, all countries, particularly major countries, need to shoulder the obligation and responsibility of guiding and promoting international cooperation. Countries should respect each other, engage in discussions as equals, and resolutely reject the Cold War mentality and power politics. Countries should not engage in a zero-sum game that puts one's self-interest first and sees others' gains as one's losses, nor should they follow a hegemonic approach that advocates beggar-thy-neighbor policies and believes in the strong bullying the weak. Instead, countries should manage differences and tensions properly, settle disputes and disagreements through dialogue and consultation, and replace estrangement with exchange, clashes with mutual learning, and superiority with coexistence among civilizations. China will continue to act as a responsible major country, and join every other country in building an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity.
"A just cause enjoys abundant support while an unjust one finds little support." In a world of increasing uncertainty, instability and insecurity, China will remain true to its original aspiration, follow the trend of the times, shoulder its responsibility for justice, and pursue the greater good. It will unswervingly safeguard the multilateral trading system, press forward with the reform of global governance, promote world peace, contribute to global development, uphold international order, and build a community with a shared future for mankind.