Business / Economy

China wants 'no trade war with anybody'

(Xinhua) Updated: 2012-10-17 09:47

BRUSSELS -- China doesn't want to have a trade war with anybody, said China's Vice Foreign Minister Cui Tiankai on Tuesday in Brussels.

"We believe that an open trading system serves the interest of everybody, especially in the difficult time of the global economy," Cui told the Brussels-based international media, "If there is any trade war between the major trading states in the world, nobody will be better off."

"At this time there is a great uncertainty in the global economy," Cui said, "It's crucial that all the members of the international community will have better coordination at their microeconomic policies and we will work together to resist temptation of the protectionism."

He said this was also applicable to the European countries. Cui described the current EU anti-dumping investigation against Chinese solar panel as a "typical case" of protectionism.

Related reading: China, EU to negotiate over solar panel friction

When talking about the ongoing European sovereign debt crisis, Cui said "it is affecting all of us," and China is following the case "very closely".

He said the Europeans have to save themselves in the first place to overcome the current difficulties. Cui said China is confident of the "capability of the European countries to handle this matter, to gradually overcome the difficulties".

Cui said China which committed $43 million to the IMF to join the international efforts to fight the European debt crisis and bilaterally has been working with so many EU members, will continue to work with the European countries as a partner, " both at the G20 and bilaterally between China and European countries".

"I think in today's world such kind of help is always mutual," Cui said, "we are willing to help the European countries in responding to their current difficulties, and the European countries have helped us in the last 30 years also during China's reform and opening-up, and we hope they will continue to take such constructive approach."

As to EU's hesitation in recognizing China's status as a full market economy, Cui said this was "beyond his comprehension". " Why over a decade over the China's membership in the WTO, after over three decades of China's reform and opening-up, this is still a question?" he said. "It is a fact China is following a market approach, China's economy is already a market-oriented one," Cui said.

Cui said the future will see an even more market-oriented Chinese economy, and hoped its European partners could make a timely decision on this matter.

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