PEKING (Reuters) – China wants to share its development opportunities with other countries, but protectionism means closing the door to China, the country's top diplomat said, amid a smoldering trade dispute with the United States.
U.S. The attempt by President Donald Trump last week to lower import taxes on Chinese imports to US $ 60 billion has since led to a warning from Beijing that it is paying US import duties of up to US $ 3 billion. Could hold back dollars.
Chinese State Councilor Wang Yi said on Friday at a regional forum in the Vietnamese capital Hanoi that the country's reform and opening policies are not being changed or influenced by external factors, the Chinese Foreign Ministry said in a statement on Saturday.
"China's reform and openness is in line with the interests of the Chinese people and will benefit other countries as well," said Wang, adding that China will create an even better investment environment for foreign companies.
"The opening should work both ways – China is opening up to other countries and hoping that others will be open to China," he said, naming no names.
While friction and disputes over trade are normal, it is important to work for equitable solutions through equal consultations in accordance with laws and regulations, Wang added.
"Any unilateral or protectionist measure is an approach against the trend of history, will not lead anywhere and will undermine their own interests," he said.
"Protectionism means closing the door to China, and they will suffer the consequences of their actions, both time and facts will prove it."
China has repeatedly promised to continue opening its economy, but many foreigners Companies continue to complain about unfair treatment.
China warned the United States on Thursday not to open Pandora's box and spark a wave of protectionist practices around the world, even as Beijing pointed to US goods, which were deepening the Sino-US trade dispute could target.
Reporting by Ben Blanchard; Arrangement by Susan Thomas