The latest press conference from the Ministry of Commerce! Actively implement the consensus reached in the new round of China US economic and trade dialogue, and promote stability and quality through foreign trade (full text)

He Yadong

Dear journalists

Good afternoon everyone, welcome to the regular press conference of the Ministry of Commerce. Today, I have a piece of information to share with everyone.

This information is about China's foreign investment and cooperation situation from January to October 2023.

From January to October 2023, China's outward investment continued to grow, with non-financial direct investment reaching 736.2 billion yuan, a year-on-year increase of 17.3% (equivalent to 104.74 billion US dollars, a year-on-year increase of 11%). Among them, the non-financial direct investment of Chinese enterprises in the "the Belt and Road" co construction country was 181.69 billion yuan, up 27% year on year (equivalent to 25.85 billion dollars, up 20.1% year on year).

From January to October 2023, the completed turnover of foreign contracted projects was RMB 856.88 billion, an increase of 8.3% year-on-year; The newly signed contract amount is RMB 1083.07 billion, a year-on-year decrease of 1.1%. Among them, Chinese enterprises jointly built national contracted projects along the "the Belt and Road" and achieved a turnover of 702.32 billion yuan, up 9.6% year on year; The newly signed contract amount is RMB 902.64 billion, a year-on-year increase of 0.5%.

The above is the information I need to share with everyone. Below, I am willing to answer the questions raised by friends from the journalist. Next, please ask a question.

Hong Kong Business Daily reporter

On November 15th, the first meeting between China and the US dollar was held. May I ask the Ministry of Commerce, how will the business working groups of both sides implement the results of the meeting and promote the progress of economic and trade relations in the future? Has the US responded positively to China's concerns, especially in terms of bilateral investment restrictions, sanctions against Chinese enterprises, export controls against China, and tariffs on China?

He Yadong

The Ministry of Commerce will earnestly implement the important consensus reached by the two heads of state, strive to promote the healthy and stable development of bilateral economic and trade relations, and inject more stability and positive energy into the world economy.

During the APEC Leaders' Informal Meeting, Minister Wang Wentao will hold another meeting with US Secretary of Commerce, Ms. Raymond, to discuss the implementation of the important consensus reached during the meeting between the two heads of state and solve important issues in bilateral economic and trade relations. If there is any further information, we will release it in a timely manner. Thank you.

Reporter from China First Financial Daily

In the first 10 months of this year, China's import and export growth achieved a return to normal. The fourth quarter is often the peak season for foreign trade. What measures will the Ministry of Commerce take to stabilize foreign trade?

He Yadong

Since the beginning of this year, China's foreign trade has withstood pressure and demonstrated strong resilience, overall better than expected. The fourth quarter is usually the peak season for foreign trade, which is the sprint and closing season for foreign trade throughout the year. We will focus on the "three improvements" and further promote the stability and quality of foreign trade.

One is to enhance the strength of enterprise market expansion services. Fully leverage the trade promotion role of exhibition platforms and increase support for enterprises to participate in domestic and foreign exhibitions. Facilitate cross-border business personnel exchanges and ensure efficient and smooth transportation of foreign trade goods.

The second is to enhance the level of innovative development in foreign trade. Promote the introduction of special policies to promote cooperation in new energy vehicle trade and improve the development level of processing trade. Carry out assessment and evaluation of cross-border e-commerce comprehensive pilot zones, and fully leverage the exemplary and leading role of excellent cross-border e-commerce comprehensive pilot zones.

The third is to improve the level of foreign trade financial services. Promote increased support for import and export credit, promote precise docking between banks and enterprises, and increase support for small and medium-sized foreign trade enterprises. Expand the scale and coverage of export credit insurance coverage, and provide protection for enterprises to explore the market. Thank you.

Journalist from China News Agency

In the new round of China US economic and trade dialogue, both sides emphasize not seeking economic decoupling and welcome the development of healthy economic relations. What is the evaluation of the Ministry of Commerce on the results of this discussion?

He Yadong

The Chinese side has repeatedly stated that developing a healthy and stable economic and trade relationship between China and the United States is not only beneficial to both countries, but also to the world. The "decoupling and chain breaking" is not in line with the fundamental interests of both countries.

China is willing to work together with the United States, uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation, actively implement the consensus reached in the new round of China US economic and trade dialogue, and inject more certainty into practical cooperation between China and the United States. Thank you.

Pengpai News Reporter

Recently, the Ministry of Commerce organized a special clean-up of regulations and measures containing unreasonable differential treatment between domestic and foreign investors. May I ask what are the key and difficult points of this work? What measures will be taken?

He Yadong

In order to deeply implement the deployment of the Central Committee of the Communist Party of China and the State Council, and strictly implement the relevant provisions of the Foreign Investment Law and its implementation regulations, we have organized this special clean-up to further investigate possible discriminatory provisions and measures against foreign-funded enterprises. The purpose is to create a more fair market competition environment for foreign-funded enterprises, stabilize the expectations and confidence of long-term foreign investment in China, and more actively and effectively utilize foreign investment services to build a new development pattern. We welcome all sectors of society to provide clues and reflect on issues to the Ministry of Commerce through the collection and handling system or other channels for foreign-funded enterprise complaints. We will promptly coordinate with relevant regions and departments to promote follow-up work and ensure that enterprises participate in market competition fairly.

Next, we will strictly implement the Foreign Investment Law, normalize the construction of the rule of law in the field of foreign investment, and continue to create a market-oriented, legalized, and internationalized first-class business environment. Thank you.

Cover News Reporter

Recently, the EU investigation agency announced the sampling results of the anti subsidy investigation on electric vehicles in China. There are reports that the European Union has changed its usual practice during the sampling process and only selected three Chinese domestic enterprises, which has caused dissatisfaction in the industry. May I ask if China has any comment on this?

He Yadong

China has noticed that the European Commission did not adopt the maximum representative export standard in its anti subsidy investigation of electric vehicles in China, and only selected three local Chinese enterprises as sampling enterprises. The sampling standards of the European Commission are not compliant, the sampling process is not transparent, the sampling results are unfair, and the relevant practices are suspected of violating WTO rules and EU laws, which is a discriminatory choice for Chinese electric vehicle enterprises and will seriously distort the subsidy investigation results.

In addition, the European Commission excluded EU member state enterprises with higher production and sales in its sampling of EU industries. This approach violates convention, and the sampling results cannot represent the objective situation of the industry within the alliance at all. The European Commission independently launched a countervailing investigation in the absence of clear opposition from industry within the EU, claiming that Chinese electric vehicles pose a threat of harm to the EU's electric vehicle industry and completely disregarding the close cooperation relationship between the Chinese and European automotive industries.

The Chinese industry is strongly disappointed and dissatisfied with the European Commission's approach to preset investigation results and covert operations. China urges the European side to strictly abide by WTO rules and EU laws, correct erroneous practices as soon as possible, ensure that investigations are open, fair, fair, and compliant, and fully protect the legitimate rights and interests of relevant enterprises. Thank you.

Xinhua News Agency reporter

The second data trade fair will open in a week. What is the current preparation status? What highlights are worth looking forward to?

He Yadong

Digital trade is an important pillar in building a strong trading nation. The second Global Digital Trade Expo will be held in Hangzhou from November 23 to 27. We focus on internationalism, professionalism, and leadership, carefully designed and fully prepared, and have now entered the sprint stage. This year's data trade fair has many highlights.

Firstly, guests and merchants have distinctive international characteristics. 68 international organizations and overseas business associations, as well as 80 international dignitaries and envoys to China from 63 countries and regions have confirmed their attendance at the conference. More than 800 companies have participated offline, with over 50% of overseas booths in the comprehensive exhibition hall. Nearly 15000 professional buyers have registered and registered, with over 1700 overseas buyers.

The second is the prominent digital characteristics of exhibition content. The exhibition area is 100000 square meters, with special booth area accounting for 94%. In the China exhibition area of the comprehensive hall, you will see the world's leading brain computer interface technology and data real integration sandbox. At the Frontier Trends Museum, for the first time, 50 major models from around the world will be gathered to showcase cutting-edge applications in fields such as education, healthcare, office, automotive, and human-computer interaction. The Silk Road E-commerce Pavilion will showcase innovative e-commerce models such as e-commerce platforms, cross-border logistics, mobile payments, and cloud services throughout the entire industry chain. We will also activate a digital news officer to broadcast exhibition news 24 hours a day during the exhibition period.

Thirdly, the professionalization of forum activities is prominent. This year's Digital Trade Fair will hold an opening ceremony and main forum, 10 key theme forums, and over 100 key supporting activities. More than 500 domestic and foreign experts and scholars will exchange and discuss at the forum, and more than 110 key achievements such as the "China Digital Trade Development Report" will be released. At the same time, there are more than 100 cutting-edge technological products and services in the field of digital trade that have been "debuted, showcased, and exhibited".

In addition, the security services of this exhibition will also be more perfect, for example, opening Alipay International, adding POS points in important places, providing cash settlement services and other ways to facilitate the payment of international customers. Welcome everyone to visit and experience the Data Trade Fair, and also welcome media friends to visit and report on site. Thank you.

Reporter from Shanghai Securities News

Recently, the fourth batch of "best practice cases" for comprehensively deepening the pilot program for innovative development of service trade were announced. Can the Ministry of Commerce provide a specific introduction to the highlights of these opening up measures, and what policy deployments will be made in supporting the development of service trade in the next step?

He Yadong

In August 2020, the State Council approved the comprehensive deepening of pilot projects for innovative development of service trade in 28 regions across the country. Since the pilot, the Ministry of Commerce has taken the lead in replicating and promoting four batches of 83 "best practice cases" nationwide. The newly issued fourth batch of 25 cases has the following five highlights:

One is to actively explore new paths of institutional openness. For example, Guangzhou has expanded the opening up of the construction engineering field to Hong Kong and Macao, and is piloting the architect responsibility system; Beijing has established a cross-border data security management mechanism to explore data compliance exit routes. The second is to further expand new forms and models of service trade. For example, Xiamen actively promotes the innovative development of sports service trade; Xi'an explores the construction of a new model of geographic information services. The third is to continuously innovate institutional mechanisms that facilitate the development of service trade. For example, Shanghai promotes paperless trade by aligning with international high standard economic and trade rules; Hangzhou encourages banks to explore pilot digital RMB cross-border scenarios. The fourth is to continuously improve policy measures to support the development of service trade. For example, Shenzhen relies on the pilot reform of foreign debt facilitation to innovate cross-border financing models for intellectual property rights. Fifth, we will continue to encourage local governments to carry out service trade statistics as a pilot. For example, Chongqing has established a key enterprise contact system for service trade and explored statistical indicators such as human resource service trade.

Next, the Ministry of Commerce will upgrade and build the National Service Trade Innovation and Development Demonstration Zone on the basis of pilot projects, continuously creating a new highland that leads the high-quality development of China's service trade, and replicating and promoting more institutional innovation achievements nationwide. Thank you.

Reporter from Kyodo News Agency of Japan

During the CIIE, Minister Wang Wentao visited the booth of Meiguang Technology. However, earlier in May, the Cyberspace Office requested operators of key information infrastructure in China to stop purchasing products from Meiguang Technology. So will there be any changes to this measure?

He Yadong

The relevant departments of the Chinese side shall take measures in accordance with the law against Meiguang related products that pose significant security risks, with a clear scope, namely in the field of key information infrastructure in China. We have noticed that Meiguang has stated that it will continue to expand its investment in China. China firmly promotes high-level opening-up, continuously optimizes the foreign investment environment, and provides service guarantees for foreign-funded enterprises. Welcome foreign enterprises including Meiguang to continue to deeply cultivate the Chinese market and achieve better development while complying with Chinese laws and regulations. Regarding the specific issue you mentioned, please consult with the Chinese regulatory authorities. Thank you.

Reuters reporter

I have two questions. The first one is that US Treasury Secretary Janet Yellen stated that during last week's meeting with Vice Premier He Lifeng, she suggested that China and the United States cooperate to combat companies that evade Western sanctions and assist Russia in invading Ukraine by sharing relevant information. Will China cooperate with the United States on this matter?

The second issue is that international balance of payments data shows that for the first time, China experienced a quarterly deficit in foreign direct investment from July to September. Based on the interaction between the Ministry of Commerce and foreign companies seeking cooperation to expand their business scope and scale in China, has the Ministry of Commerce made a forecast for foreign direct investment in 2024?

He Yadong

Regarding your first question, regarding Vice Premier He Lifeng's visit to the United States, the Ministry of Finance of China has released a message for you to refer to.

Regarding your second question, according to the global cross-border investment data released by the United Nations Conference on Trade and Development, in recent years, China's absorption of foreign investment has been at a relatively high level in terms of scale, proportion, and growth rate. Affected by the continuous downturn in global cross-border direct investment and a high base in the same period last year, the scale of China's foreign direct investment attraction decreased from January to September this year, but it is still at a historical high. As we have previously introduced, foreign investment projects sometimes last for several years from negotiation and signing to production, so the data on attracting foreign investment fluctuates every year.

Since the beginning of this year, we have deepened our regular exchanges with foreign-funded enterprises and foreign business associations through roundtable meetings and other means. In the process of communication, multinational corporations are generally optimistic about China's development prospects and willing to develop in China for the long term. We welcome more multinational corporations to join the Chinese market and share the dividends of China's development. Thank you.