China releases white paper on trade friction

BEIJING. - China published a white paper yesterday to clarify the facts about China-US economic and trade relations, demonstrate its stance on trade friction with the United States, and pursue reasonable solutions.

Excluding the foreword, the 36,000-Chinese-character white paper is comprised of six parts, which are mutually-beneficial and win-win China-US cooperation in the trade and economic field, clarification of the facts about China-US trade and economic relations, the trade protectionist practices of the US administration, the trade bullyism practices of the US administration, damage of the improper practices of the US administration to global economy, and China’s position.

China is the world’s biggest developing country and the United States is the biggest developed country, said the white paper. “Trade and economic relations between China and the United States are of great significance for the two countries as well as for the stability and development of the world economy.”

The white paper said the two countries are at different stages of development and have different economic systems, and therefore some level of trade friction is only natural.

“The key, however, lies in how to enhance mutual trust, promote cooperation, and manage differences.” Xinhua.