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Permanent Mission of the People's Republic of China to the United Nations Held a Briefing on China-US Economic and Trade Relations

2019/05/17

On 17 May, Ambassador Ma Zhaoxu, Permanent Representative of the People’s Republic of China to the United Nations, held a briefing on China-US economic and trade relations at the UN Headquarters in New York. Ambassador Ma gave an overview of the trade talks between China and the United States since the US unilaterally started trade frictions in March 2018. He made clarifications on the facts, stated China’s positions and refuted unwarranted accusations by the United States. More than 100 representatives from UN member states and agencies attended the briefing.

Ambassador Ma said that on 1 December 2018, on the sidelines of the G20 Summit in Buenos Aires, the Chinese and US presidents agreed to expand cooperation for mutual benefit, manage differences based on mutual respect and jointly promote China-US relations featuring coordination, cooperation and stability. The trade teams of the two sides then had rounds of talks. The Chinese side has been committed to resolving differences through dialogue, keeping the door open for negotiations, actively engaged in trade talks with greatest patience and sincerity, and doing its utmost to seek the largest common denominator of the interests of both sides. However, in disregard of China’s sincerity and efforts and the principles of equality and mutual benefit, the US side has resorted to maximum pressure, making unreasonable demands. This has once again escalated trade frictions and cast a shadow over trade relations between the two countries. This is the result of the US bullying in trade, and the responsibility lies with the US side. China does not want a trade war, is unwilling to fight, and is not afraid to fight. If someone takes the trade war to its doorstep, China will fight to the end. China never succumbs to external pressure and has the determination and ability to uphold its own legitimate rights and interest.

Ambassador Ma said that China-US relationship is very important. The economic and trade relations are the "ballast" and "propeller" of this important bilateral relationship. This is about not only China-US bilateral relations but also world peace and prosperity. Cooperation is the only right choice for both sides, but cooperation has principles to follow and China will never give in on major issues of principle. The Chinese side strongly opposes the US practice of imposing additional tariffs, which is not conducive to China, the United States, nor the world. Adding tariffs will not solve any problem. China hopes that the US will work with China, meet each other halfway, address each other's concerns based on mutual respect and equality, and strive for a mutually beneficial agreement. The agreement must be equal-footed and mutually beneficial, and China’s three core concerns must be met. In consultations, both sides must show sincerity, abide by principles and honor their commitments.

Ambassador Ma said that the Chinese economy has maintained steady growth and positive momentum. The US trade protectionist measures will have some impact on the Chinese economy, but it can be overcome. China has the confidence and ability to withstand any external risks and challenges. The Chinese economy is a vast sea, not a small pond. China will continue to advance reform and opening up and promote high-quality economic development at its own pace and according to its own timetable and road map, to realize long-term stability and growth of the Chinese economy. Under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core and with confidence and hard work, China will have nothing to fear and will surely maintain sustained and healthy economic development.

Ambassador Ma also laid out China’s positions in refute of US allegations against China on so called forced technology transfer and theft of intellectual property. He made persuasive argument against such fallacies.

In closing, Ambassador Ma said that cooperation is the only right choice for the two countries, and only mutual benefit leads to a better future. He expressed the hope that the United States will work with China to jointly promote China-US relations featuring coordination, cooperation and stability. The two sides should respect each other's core concerns and follow the principles of mutual respect, equality and mutual benefit. This is the only way to expand cooperation, effectively resolve the trade issues between the two sides, ensure long-term stability and progress of China-US relations, and bring more benefits to the people of both countries and the world.

The participants commended China for hosting the briefing, saying that this timely event could help them understand China-US economic and trade relations, especially the real situation of the trade frictions. They noted that China-US economic and trade relations are vital for maintaining the stability of the global economy and they support resolving differences through equal-footed consultation and dialogue and upholding the multilateral trading system.

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