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Speaking with the media this week, the Commerce Ministry1's Shen Danyang notes the European Union remains2 China's largest trading partner and an important investment partner, while Britain still holds the distinction of being China's second largest trading partner inside the European Union - at least for now.
Despite the shock the Brexit vote gave global markets this past month, Shen Danyang says they remain quite confident about ties with both the EU and Britain.
"China always treats and develops Sino-EU and the Sino-UK trade relations from a strategic perspective. We support the Europe's own choice of development path and the integration3 progress of Europe. China will work with the EU and the UK to deepen cooperation in various fields. And we will pay close attention to the situation and influence after the Brexit."
中国有信心处理好与英欧关系
Shen Danyang admits the turbulence4 in the international market following the Brexit will have a certain impact on Chinese companies investing overseas, as the external environment has become increasingly uncertain.
However, he says the overall impact of this will be short-term and limited.
"Looking from the mid-to-long term, the short-term impacts will not last long. The international investment environment will turn toward the better, and new business opportunities are still abundant. In general, there will still be more investment and cooperation opportunities for our companies abroad. We have good reason to believe our outbound investments will remain positive and stable."
The Commerce Ministry has also addressed recent concerns about trade protectionism, saying Chinese companies are facing a grim situation, as new data suggests one-third of all trade remedy measures being enacted5 around the world are targeting China.
Commerce Ministry officials contend China has been the biggest target in the world for anti-dumping investigations7 over the past 21 consecutive8 years.
Shen Danyang has pledged that the Commerce Ministry is fully-prepared to safeguard the interests of Chinese companies.
"The Chinese government supports Chinese enterprises in dealing9 with trade disputes according to the legal procedure of the country of import. We encourage consultations10 among relevant parties to reduce trade frictions11 and achieve mutual12 benefit and a win-win result. As to the abuse of trade restrictive measures, China will resort to the dispute settlement mechanism13 of the World Trade Organization if necessary in order to protect our legitimate14 rights and interests."
Investigations launched by different countries through the World Trade Organization often result in initial tariffs15 which are applied16 to products being sent into their countries.
The money itself is held in a trust until the full investigation6 is complete.
However, WTO trade disputes can take years to settle, meaning many companies are unable to continue to afford sending their products to countries which are imposing17 the anti-dumping or countervailing duties, effectively creating a barrier to free trade.
For CRI, I'm Qi Zhi.
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1 ministry | |
n.(政府的)部;牧师 | |
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2 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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3 integration | |
n.一体化,联合,结合 | |
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4 turbulence | |
n.喧嚣,狂暴,骚乱,湍流 | |
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5 enacted | |
制定(法律),通过(法案)( enact的过去式和过去分词 ) | |
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6 investigation | |
n.调查,调查研究 | |
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7 investigations | |
(正式的)调查( investigation的名词复数 ); 侦查; 科学研究; 学术研究 | |
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8 consecutive | |
adj.连续的,联贯的,始终一贯的 | |
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9 dealing | |
n.经商方法,待人态度 | |
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10 consultations | |
n.磋商(会议)( consultation的名词复数 );商讨会;协商会;查找 | |
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11 frictions | |
n.摩擦( friction的名词复数 );摩擦力;冲突;不和 | |
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12 mutual | |
adj.相互的,彼此的;共同的,共有的 | |
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13 mechanism | |
n.机械装置;机构,结构 | |
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14 legitimate | |
adj.合法的,合理的,合乎逻辑的;v.使合法 | |
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15 tariffs | |
关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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16 applied | |
adj.应用的;v.应用,适用 | |
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17 imposing | |
adj.使人难忘的,壮丽的,堂皇的,雄伟的 | |
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