ZCZC
BCN-09
CHINA-ECONOMY
China will tackle US trade dispute in 2019: minister
BEIJING, Jan 13, 2019 (BSS/AFP) – China will work to straighten out trade
frictions with the US this year, the country’s commerce minister told state
media, following talks with US negotiators this week.
A large US delegation ended a three-day visit to Beijing Wednesday in the
first face to face trade talks since President Donald Trump and Chinese
leader Xi Jinping in December pledged a three-month truce in the escalating
tariff spat.
China said the talks had “laid the foundation” to resolve mutual concerns
on trade.
“We will properly handle the China-US economic and trade frictions” this
year, commerce minister Zhong Shan said, according to a Saturday report by
state media outlet Xinhua.
Zhong said Beijing will also promote outside investment, work to pass a
foreign investment law and improve its dispute resolution system, Xinhua
reported.
China’s policymakers have long promised a more open and free market with
better protections for foreign investors, but officials have been slow to
make good on those pledges — leading the European Union Chamber of Commerce
in China to coin the term “promise fatigue”.
Zhong said China’s negative list — which restricts investment in certain
industries — will be further slimmed down, while Beijing also intends to
expand economic sectors open for foreign investment without the need for a
Chinese joint-venture partner.
The minister specifically outlined a push for foreign investment in
manufacturing, high-tech industries and investment in China’s inner regions –
– pledges which are similar to promises made last year.
Pushing Beijing to implement economic reforms and further open up areas for
US investment is a focus in trade negotiations with Washington.
BSS/AFP/HR/1042 HRS