Raising standards vital in trade dispute

The key to China's survival in the potentially protracted trade war with the United States lies in the deepening of reforms while ensuring its core industries are of a world-leading standard, trade and law experts said on Monday.

Unremitting efforts in relaxing trade in both goods and services will hold the key to keeping the Chinese economy largely unaffected by the ongoing trade hostilities triggered by Washington, said Zhang Naigen, vice-chairman of WTO Law Research Society of China Law Society and a professor at Fudan University.

"While there is a slight chance of a 'ceasefire' by the year end, we should not downplay the dangers and still need to prepare for the worst," Zhang told a panel discussion at Shanghai University of International Business and Economics.