USCHINA TRADE WAR WILL HURT AMERICANS: PM LI KEQIANG

BEIJING: China on Wednesday said it does not want a trade war with the US and that differences should be “shelved” till bilateral talks could forge a consensus.

A trade war with the US “would not make our trade fairer”, Premier Li Keqiang told a news conference to mark the end of the annual session of the National People’s Congress, China’s national parliament.

Quoting a think-tank report, Li was quick to point out that “If there were a trade war, it would be foreign-funded companies, particularly US firms, that would first bear the brunt”.

“We may have different statistical methodologies, but we can continue talking to reach a consensus. Even if we cannot reach a consensus at once, we can temporarily shelve our differences,” Li said.

“In terms of trade issues, although China currently has a surplus, more than 90% of Chinese companies’ profits were taken by the US. We have statistics showing that last year, China-US trade and investment created more than one million jobs in the United States.”

Li’s statements came against the backdrop of a possible meeting between President Xi Jinping and President Donald Trump being set up in the US in April.

Referring to the state of China’s economy, Li ruled out the possibility of systemic risks as “the country has plenty of policy options at its disposal”.

China, he said, will remain an important engine for world growth.

Li also answered questions on the South China Sea and said China hopes to maintain peace and stability in the region by pushing forward negotiations for a code of conduct for rival claimants in the disputed waters.