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| MOFCOM Spokesman Chong Quan Holding a Press Conference |
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| 2006-11-17 08:08 MOFCOM |
Video: MOFCOM Spokesman Chong Quan Holding a Press Conference
Assistant Minister and the Spokesman Chong Quan held a press conference on Nov. 15, briefing the trade and economic relations between China and APEC members, and Vietnam, Laos, India and Pakistan and answering questions of reporters. His briefings were as following:
Chong Quan: You are welcome to the press conference. Today, President Hu Jintao will depart for Vietnam to attend the 14th APEC Economic Leaders' Informal Meeting and will pay state visits to Vietnam, Laos, India and Pakistan respectively. At the APEC Ministerial Meeting held in Vietnam in Nov. 15 and 16, topics of support to Doha Round Negotiation, regional trade arrangement, IPR protection and trade facilitation will be mainly discussed. Therefore, I would like to take this opportunity to introduce the trade and economic relations between China and APEC members and the above-said 4 countries to friends from the media:
1, close trade and economic cooperation between China and APEC members
In 2005, China's foreign trade with APEC members amounted to US$960.8 billion, up by 21% on a year-on-year basis and accounting for 67.6% of total import and export of China. In Jan. through Sept. 2006, trade between China and APEC members hit US$835.5 billion with a year-on-year increase rate of 21%. 8 of China's top 10 trading partners came from APEC, including USA, Japan, EU, Hong Kong, Korea, Taiwan, Russia and Australia.
Regarding attraction of foreign investment, the number of APEC investment enterprises, commitment and actual use of APEC investment in China in 2005 accounted for 82%, 71% and 65% respectively of total number of the newly approved foreign investment enterprises, contract value and actual use of foreign investment of China.
China maintains a positive attitude toward the enhancement of cooperation among APEC members, mutual promotion of regional trade liberalization and facilitation, economic and technical cooperation. China and the members have favorable cooperation relations in pushing forward WTO Doha Round Negotiation, and strengthening investment and trade liberalization, economic and technical cooperation in the Asia-Pacific region.
2, Sino-Vietnam trade and economic cooperation
Sino-Vietnam trade and economic relations developed rapidly. According to Chinese statistics, the bilateral trade in 2005 was US$8.2 billion, up by 21.6%, of which China exported US$5.65 billion and imported US$2.55 billion, up by 32/5% and 2.8% respectively compared with the previous year. Statistics from Vietnam indicated that China was the biggest trading partner, biggest import source and 3rd biggest export market of Vietnam in 2005.
Vietnam is one of the major overseas project contracting markets of Chinese enterprises to invest in Southeast Asia. By the end of Sept. 2006, total value of contracted projects of Chinese enterprises in Vietnam amounted to US$3.94 billion, and the turnover reached US$1.63 billion. Vietnam is also one of main destinations for Chinese enterprises to invest overseas, by the end of Sept. 2006, total actual investment of China in Vietnam was US$260 million.
3, Sino-Laos trade and economic cooperation
According to Chinese statistics, bilateral trade between China and Laos in 2005 amounted to US$130 million, up by 13.6% compared with the previous year, of which China exported US$100 million and imported US$30 million, up by 2.5% and 191.9% respectively. In order to push forward the development of Sino-Laos trade, China announced to carry out unilateral zero tariff treatment in 2004 and 2005 respectively on total 330 items of Laos products and fulfilled on Jan. 1, 2004 and Jan. 1, 2006 respectively. In the aspect of investment, stock of China’s overseas investment in Laos reached US$55.86 million and newly added US$22.99 million in the first 9 months of 2006. The investment covered areas of service trade, production and processing and resources development.
4, Sino-India trade and economic cooperation
China and India are strongly complementary to each other economically and the potential for further economic and trade cooperation was huge. In recent years, the bilateral trade between China and India developed with a high speed and volume maintained a momentum of high-speed growth. Sino-India trade increased from US$2.914 billion in 2000 to US$18.703 billion in 2005 with an annual growth rate of 45%. In Jan. through Sept. 2006, the bilateral trade reached US$17.9 billion and will exceed US$20 billion in the whole year, realizing the goal put forward by leaders of the two countries 2 years ahead of the schedule. Statistics from China indicated that India became the 11th trading partner of China in 2005, on the other hand, China became the 2nd biggest trading partner of India according to India's statistics.
By Sept. 2006, China sighed US$6.932 billion economic and technical cooperation contracts with India and the turnover hit US$1.441 billion. In the first 9 months of 2006, value of newly signed contracts between China and India was US$3.08 billion.
Two-way investment between China and India begins. By Sept. 2006, total investment of China in India approved or put on records by the Ministry of Commerce amounted to US$48.47 million, covering areas of electron, telecommunication and light industry. India totally invested 238 non-financial projects with a value of US$506 million and the actual input was US$136 million. Major fields of investment were metallurgy, electric appliances, medicine, printing ink and textile products.
5, Sino-Pakistan trade and economic cooperation
Bilateral trade between China and Pakistan in recent years made positive progress, increased with an annual average rate of 30% in the past 5 years and exceeded US$4.2 billion in 2005. In the first 9 months of 2006, Sino-Pakistan trade amounted to US$3.75 billion, China became the third biggest trading partner of Pakistan.
Pakistan is the important market of China to engage in project contracting business in South Asia. In recent years, the average value of signed contracts of labor service amounted to about US$500 million per year. By the end of Sept. 2006, total value of contracted engineering and labor service cooperation projects of China in Pakistan amounted to US$8.64 billion and the turnover was US$7.2 billion. By Sept. 2006, the agreed investment of China in Pakistan was US$110 million and actual investment of Pakistan in China was more than US$20 million.
Recently, the 5th Round Negotiation on Sino-Pakistan Free Trade Area closed. And the two sides reached a consensus on market access and FTA agreement, and made essential progress. The Sino-Pakistan FTA Agreement is expected to be signed in the near future, which will certainly push forward a bigger development of Sino-Pakistan trade and economic relations.
Then I would like to give you a briefing on statistics on China’s absorption of foreign investment. In Jan-Oct, China newly approved the establishment of 33068 foreign investment enterprises, down by 6.32% on a year-on-year basis. In Oct, there were 3,047 newly approved enterprises, down by 0.97%, with US$5.987billion actual use of foreign fund, up by 15.92%.
Q: What is the comment made by China for Vietnam’s entrance into WTO? What is the expectation over China-Vietnam trade and economic ties after such entrance? And what kind of improvement will be brought for China’s products entering Vietnam’s market and China’s investment in Vietnam?
A: As Vietnam’s friendly neighbor, China is glad to see its successful result of accomplishing negotiation for entering WTO as the 150th member country, after 11 years of efforts. China appraises for Vietnam’s great effort made in its entering and magnificent achievement gained in domestic reform. Given this, I would like to extend congratulations to Vietnam and warmly welcome its entrance of WTO. We believe that the entrance of Vietnam can bring new energy and blood to multinational trade system.
After Vietnam’s entrance, China’s products, service industry shall gain more market entrance in Vietnam. As perfect of its market environment, such as improvement of transparency of law and regulation, abolishment of discriminative requirement on foreign trade, foreign fund attraction of Vietnam’s market increasingly stronger. In goods trade, Vietnam decreases tariff greatly on such predominant products like textile, apparel, household appliance and auto. In service trade, Vietnam makes broad and profound commitment in service department which China possesses comparative predominance and exporting benefit in, such as building, computer and exploration of oil and gas. It provides not only opportunities for investment and trade of China and WTO members, but also choices for Vietnam’s consumers.
Meanwhile, Vietnam will better enjoy benefit, under WTO’s framework, brought by China’s opening market.
Q: What is China’s comment on EU’s documents in trade policy to China?
A: In Oct 2006, EU Commission issued the 6th document in policy to China and independently issued trade policy to China for the first time. It shows that EU Commission attaches great importance not only in developing relations with China, but also in role and development of bilateral trade and economic ties which regarding as key point in China-Europe relations.
Looking generally, EU objectively comments on the positive role played by Chinese economy in EU’s economic development and stresses that China’s development is EU’s opportunity not threat. EU shows that growing up of China’s economy is in the interest of Europe and says Europe cannot ask for opening of China while build a high wall for themselves. But the document mainly stresses on China’s responsibility which request China to further improve market entrance in service, goods, investment and government procurement, and mention China’s concern on trade and economy in passing.
We hope EU Commission and EU members can, from the aspect of Sino-European complete strategetic partner, practically transfer positive keynote in the document into active action, settle China’s concern on significant trade and economic issues like full market economy status, and push forward smooth development in Sino-European trade and economic cooperation.
Q: US Secretary of Commerce Carlos Gutierrez visited China accompanied by many entrepreneurs and showed to push forward export to China. What is your comment on such event?
A: This is the 4th time visit of China for Mr. Carlos Gutierrez as US Secretary of Commerce which indicates that U.S. attaches great importance on developing Sino-US trade and economic relations. It is in accordance with China’s position on actively developing trade relations with US. As a result, developing a balanced and healthy Sino-US trade relation meets common benefit.
On Nov 13, Minister Bo Xilai held 3 hours talks with Mr. Gutierrez at Ministry of Commerce and exchanged views over broad issues in Sino-US trade relations which of course referring to trade balance. Mr. Gutierrez showed concern of US over such issue and hoped to realize balance of bilateral trade through development not restrain China’s export to US. Mr. Bo reaffirmed persistent position of China in pushing healthy trade development and stressed to completely and objectively treat Sino-US trade relations. General economic benefit is balanced between China and US, when considering comprehensively with such factors as increasing export of US to China, trade surplus of US service trade to China and US ventures who invested in China realizing totaling US$100 billion of sales in China’s market.
China’s market is opened and welcomes US product and service to enter China and participate in competition. We hope US could loosen control over export to China so as to introduce China’s needed products normally, release trade imbalance and we also expect US could treat Chinese ventures and products fairly.
Q: 2006 Year of Russia in China has just closed and the following year is Year of China in Russia. Could you please introduce relevant trade and economic activities on the occasion?
A: 2006 Year of Russia in China has just closed and the preparation for 2007 Year of China in Russia has started. Trade and economic activities of Year of China is as abundant as Year of Russia. At present, 26 activities are confirmed primarily between China and Russia, including 3 state level activities undertaken by MOFCOM, such as China National Exhibition in Mar 2007, the 11th session of Saint Petersburg International Economic Forum in Jun 2007, and the 2nd session of China-Russia Summit for Economic and Industrial Communities holding during the 11th fixed meeting between premiers of China and Russia in the 4th quarter of 2007.
In addition, there are also other trade and economic activities which referring to trade, transportation, banking, IT, post service, forestry, agriculture and border cooperation. We believe that under the framework of Year of China in Russia, trade and economic activities will certainly become favorable platform for ventures and local authorities develop cooperation, and play an active role in promoting cooperative level of bilateral trade and solidifying and enriching social foundation for Sino-Russian good-neighborly relations.
(Source: Network Center of MOFCOM)
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