Wu rebuts US textile import restrictions
HONG KONG: Vice-Premier Wu Yi yesterday rebuked the US for unilaterally limiting textile imports from China.
Disputes, she said, should be settled within the World Trade Organization (WTO) framework.
Wu's comments came days after the country's 10-hour negotiations with the European Union (EU) hammered out an agreement and averted a textile trade war.
Making the remarks at the 2005 Pacific Basin Economic Council (PBEC) International General Meeting in Hong Kong, Wu lashed out at recent US moves to impose unilateral limitations on Chinese textile imports.
Addressing her speech to hundreds of business leaders in the region, Wu said: "The setting of unilateral restrictions on some Chinese textile products by the US has impaired the rights of mainland enterprises."
Wu said the China-EU deal was proof that trade rows can be resolved on the principles of equality, mutual benefit and respect.
On Saturday, China and the EU reached agreement on the annual growth of 10 categories of exports to the European market.
China is working to meet WTO trade regulations by developing a more open and dynamic economic system, she said.
She said China would ensure a balance between economic growth and the sustainability of human and natural resources.
China will step up its use of coal, oil, natural gas and nuclear power as well as other new energies.
The vice-premier also mapped out five-point principles to call on the countries in the Asia-Pacific region to join hands in world peace and development.
(China Daily 06/14/2005 page2)