(ECNS) - The current trade tensions between China and the United States are having a limited impact on Chinese companies, Ministry of Commerce spokesperson Gao Feng said at a press briefing on Thursday.
Gao said the friction is affecting export-oriented enterprises to various degrees, from little impact on those with very competitive products to certain impact on companies with a weaker competitive edge. Some companies are faced with closure or the lay-off of workers due to fewer orders and increased costs.
However, most companies are "full of confidence" and the government will also take active measures to help enterprises and employees cope with possible difficulties, said Gao.
Data showed that the growth rate of China's exports to the U.S. in the first three quarters was higher than that of the first half of the year despite the imposed tariffs, indicating the faster pace of Chinese exports.
Gao said the figure shows that the economies of China and the U.S. are highly complementary and that Chinese products are still popular among American consumers. Another possibility is that some U.S. importers are speeding up on purchases to minimize the impact of tariffs, according to Gao.
The economy and trade in China and the U.S. are deeply interconnected thanks to joint efforts at government and enterprise levels between the two countries, as well as the division of labor in the global industrial chain, so this general trend will not reverse, said Gao.
Gao also said China hopes the U.S. will abandon its protectionist strategy and create a stable and predictable trade environment, especially for small and medium-sized enterprises, which will benefit consumers in both countries.
Gao also said that China's position on China-U.S. economic and trade talks has been consistent, and "If the U.S. is sincere, the negotiations should be carried out on the basis of equality, integrity, and mutual respect.”
