On December 21st, Chinese Foreign Ministry spokesperson Wang Wenbin addressed the issue of the United States considering raising tariffs on Chinese electric cars during a routine press conference. The details are as follows:
A journalist inquired: The Biden administration has stated that it is considering increasing trade tariffs, particularly on Chinese electric cars. What is the spokesperson's comment on this?
Wang Wenbin responded: As early as last year, when the United States passed the "Inflation Reduction Act," which included measures related to tariff exemptions, China publicly expressed concerns about the unfair and discriminatory nature of the U.S.'s actions.
These measures, justified under the guise of security and following the "America First" policy, contradict the principles of a market economy and fair competition. They threaten the security of global industrial and supply chains, representing blatant protectionism. The measures are suspected of violating WTO principles such as most-favored-nation treatment and national treatment, triggering strong dissatisfaction from many countries, including European allies of the United States. The so-called new rules recently released by the U.S. are an upgraded version of "American-style protectionism," and China strongly opposes them.
We urge the United States to abide by WTO rules, uphold a trade order of fair competition, and provide a business environment that is fair and non-discriminatory for enterprises worldwide. China will closely monitor the situation and take necessary measures to safeguard its legitimate rights and interests.
Foreign Ministry: Welcome Global Business Community to Continue "In China, For the World"
A journalist asked: Recently, the Chief Representative of the International Monetary Fund in China, Bennett, stated in an interview that China is expected to contribute about one-third of the momentum for global economic growth in 2023 and predicts that the Chinese economy will maintain robust growth in 2024. What is the spokesperson's comment on this?
Wang Wenbin replied: We have noted the relevant reports. Recently, several international institutions, including the International Monetary Fund and the Organisation for Economic Co-operation and Development, have raised their growth forecasts for the Chinese economy this year, expressing optimism about China's economic growth momentum next year. It is widely recognized that China is the largest engine for global economic growth.
Research from the International Monetary Fund indicates that the rapid growth of the Chinese economy will have positive spillover effects on other regions of the world. For every 1% increase in China's economic growth, the output level of other economies will rise by an average of 0.3%.
China possesses the world's most potential and expansive market. The macroeconomic policy measures introduced by the government have effectively promoted economic recovery, with ample room for the implementation of monetary and fiscal policies. China's comprehensive deepening of reform and opening up injects powerful impetus for sustained and healthy economic development. The ongoing global technological revolution and industrial transformation provide a broader stage for China's economic development. Overall, the favorable conditions for China's development outweigh the unfavorable factors. The fundamental trend of economic recovery and improvement remains unchanged, supporting high-quality development, and favorable conditions for factors continue to accumulate.
We welcome friends from the global business community to continue "In China, For the World." China will consistently expand high-level opening-up, continuously improve the business environment, strengthen intellectual property protection, and create an open and innovative ecosystem with global competitiveness, sharing the dividends of China's development with the world.
