China MOFCOM: Misleading to say Xi's speech this week is a concession to US on trade issue

Dhwani Mehta FXStreet

China’s Ministry of Commerce (MOFCOM) is out with a brief statement this Thursday, mainly highlighting key points on the US-China trade conflict.

Misleading to say President Xi's speech this week is a concession to the US on the trade issue.

President Xi's speech is an important strategy for China's further opening up, has nothing to do with trade friction with the US.

Market opening measures are China's voluntary act.

China will develop in its own direction.

Hopes the US will understand the world's situation, would not walk down its own path blindly.

China is well-prepared if the US escalates on trade, will fight back without hesitation.

So far China and the US have not done any negotiation on bilateral trade frictions.

Not a matter of if China willing to negotiate with the US, it’s the US not showing sincerity.

The US actions so far are typical trade protectionism, unilateralism.

Impossible for China to negotiate with the US if negotiations are hijacked.

China will absolutely carry out measures on opening up.

US accusations on IP forced transfer holds no ground.

Hope to complete revision of foreign investment negative list within H1 of 2018.

The US trade frictions are single-handedly provoked by the US.

US actions so far have deviated from WTO spirit and rules.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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