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The facts and China's position on China-US trade friction

China Daily | Updated: 2018-09-26 08:00

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.

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