Overseas media reviews during China's two sessions (IV)

2018-03-14 13:58:42 中国日报

China's top legislative and political advisory body started its annual sessions, kicking off an important political season that will highlight new missions for the country's goal of a "great modern socialist country".

The question of "trade war" and SOEs reform were high on the agenda for the weekend's meetings held by Minister of Commerce Zhong Shan and Xiao Yaqing, head of the State-Owned Assets Supervision and Administration Commission, on the sidelines of the 13th National People's Congress.

Let's take a look at what overseas media said.

A worker checks molten steel at an iron and steel plant in Dalian, Northeast China's Liaoning province. [Photo by Liu Debin/For China Daily]

On trade war

Germany denounced moves by President Donald Trump to impose tariffs on US metal imports, saying Europe needed a united response to the threat and echoing criticism from China that it risked undermining the global trade system.

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Hours earlier in Beijing, Chinese Commerce Minister Zhong Shan said any trade war with the United States would only bring disaster to the world economy.

Germany, China warn Trump tariff moves threaten global trade - Reuters

Trade war [Photo/China Daily]

China can handle any challenges and will resolutely protect its interests, but the two countries will continue to talk, he (Chinese Commerce Minister Zhong Shan) said.

China Says Trade War With U.S. Will Only Bring Disaster to Global Economy - Reuters

Despite the exemptions, the tariffs could lead to retaliation from certain countries. The European Union on Wednesday detailed a list of US-made goods that it would subject to reciprocal tariffs if Trump follows through with his plan. China also indicated it was preparing an appropriate response.

Beijing: 'No winners' in any trade war with US - CNN

A coal-fired power plant in Bali, Indonesia, was funded and constructed by the Chinese enterprise China Huadian Corporation (CHD), which also operates the plant. [File photo/Xinhua]

On Overseas investment

Chinese businesses will be encouraged to bring e-commerce, big data, cloud computing and artificial intelligence services to countries along the BRI trading routes to help them develop a digital economy and integrate into the global economy.

Mr Zhong (China's minister of commerce Zhong Shan) stressed that future outward investments will be focused on the BRI and pledged to continue to rein in irrational overseas investments.

China aims to become trade and economic giant by 2050 - The Straits Times

The state assets administrator characterized further internationalization by state firms as "inevitable and completely understandable".

State firms, at home, would be pushed to improve their asset quality and boost their equity capital, Xiao (Xiao Yaqing, head of China's State-Owned Assets Supervision and Administration Commission) said.

China state assets regulator says debt reduction, curbing risks still key - Reuters