1. LINE

      Text:AAAPrint
      Economy

      China poised to defend against rising protectionism

      1
      2017-02-10 08:41Xinhua Editor: Gu Liping ECNS App Download

      As anti-globalization appears to be sweeping across world economies still struggling with slow recoveries, China is poised to defend its exports against escalating protectionism.

      "We do not want trade wars, but we will be well-prepared for and actively respond to any trade remedy measures from other countries and regions to protect the interests of Chinese enterprises," Wang Hejun, head of the trade remedy and investigation bureau under the Ministry of Commerce, told the "Economic Information Daily."

      His remarks came in as a response to recent exorbitant tariffs imposed by the United States and European Union on Chinese steel.

      The U.S. commerce authority ruled earlier this month that importers of stainless sheets and strips manufactured in China will have to pay anti-subsidy taxes up to 190.71 percent and anti-dumping taxes up to 76.64 percent. The European Commission at the end of January decided to levy heavy duties on another Chinese steel product, with rates ranging between 30.7 percent and 64.9 percent.

      For China's steel industry, with its average profit margin of 5 percent to 10 percent, the taxes are more than enough to completely drive Chinese companies out of the overseas markets, analysts said.

      The two cases signaled looming trade pressures for the world's second largest economy that had once thrived on exports.

      "The global trade [situation] is deteriorating and will become even grimmer in 2017," Wang said, predicting Chinese steel and aluminum products will continue to be main targets of trade investigations.

      The world's largest exporter has born the brunt of rising protectionism amid the feeble global economic recovery.

      Chinese exporters suffered a record number 119 trade remedy investigations initiated by 27 countries or regions last year, a 36.8 percent increase from 2015. Those cases involved 14.34 billion U.S. dollars of goods, up 76 percent year on year.

      Weighed on by trade remedies, China's full-year exports in 2016 dropped 2 percent in yuan-denominated terms, and imports up slightly by 0.6 percent, customs data showed. Its trade surplus dropped 9.1 percent.

      "Protectionism is becoming increasingly serious, not only because of surging trade probes, but the disregard for and abuse of established rules of some members of the World Trade Organization (WTO), which have further compounded the international circumstance," Wang said.

      To easily impose exorbitant tariffs on Chinese products, the United States and EU still use costs of production in a third country to calculate the value of products from countries on its "non-market economy" list, which includes China.

      The unfair and unreasonable practice should have expired at the end of 2016, according to agreements signed when China joined the WTO in 2001. But the United States has refused to grant China equal trade status, and the EU, although mulling abolishment of its "non-market economy" list, has proposed new restrictions to legalize the old practice.

      Trade remedies have been politicized and become an expedient for some countries and regions to transfer domestic economic pressure, Wang said.

      Under a prolonged economic downturn, protectionism is on the rise around the globe. The monthly average trade investigations launched by WTO members in 2016 reached the highest level since 2009.

       

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 中文字幕无码精品亚洲资源网久久 | 日韩免费高清视频| 国产精品亚洲av色欲三区| 亚洲国产精品无码久久青草| 国产成年无码久久久免费| 亚洲乱人伦精品图片| 亚洲国产精品日韩| 亚洲国产精品免费在线观看| 亚洲爆乳精品无码一区二区| 国产亚洲欧洲精品| 成年在线观看免费人视频草莓| 丰满人妻一区二区三区免费视频| 亚洲国产精品久久网午夜| 亚洲国产精品综合久久网络| 最近在线2018视频免费观看| 一级毛片大全免费播放下载| 亚洲国产视频网站| 国产国拍精品亚洲AV片| 午夜视频免费成人| 日韩午夜理论免费TV影院| 亚洲第一se情网站| 亚洲成年人电影在线观看| 亚洲不卡无码av中文字幕| 男女做羞羞的事视频免费观看无遮挡| 一级毛片大全免费播放下载| 亚洲国产精品网站在线播放| 亚洲人成网www| 国产成人精品曰本亚洲79ren| 67194熟妇在线永久免费观看 | 成人无码WWW免费视频| 亚洲欧美国产精品专区久久| 亚洲国产精品久久久久| 亚洲一级黄色视频| 免费精品一区二区三区在线观看| 88av免费观看| 国产在线一区二区综合免费视频| 美女被吸屁股免费网站| 亚洲综合中文字幕无线码| 91精品国产亚洲爽啪在线观看| 亚洲色中文字幕无码AV| 亚洲国产电影av在线网址|