China to ensure stable foreign trade, investment

China will beef up efforts to maintain stable foreign trade and investment as the pandemic had dealt a heavy blow to the world economy.

The country will work to energize foreign trade entities and further improve its business environment, Minister of Commerce Zhong Shan told a press conference.

Chinese authorities have supported firms with policies in taxation, financing, insurance, industrial chain and supply chain, Zhong said.

To ensure stable foreign trade, China will expand its opening-up including easing market access and shortening the negative list for foreign investment, he said.

On China’s anti-dumping and anti-subsidy duties on Australian barley, Zhong said it was a legitimate trade measure. “Our trade remedy investigations against Australian barley were launched at end of 2018, during which we solicited opinions from stakeholders. The investigation lasted one and a half years, and we found out dumping and subsidy are matters of fact.”

Since the establishment of diplomatic relations between the two countries, China had demanded only one case of trade investigation against Australia, while Australia had initiated 100 against China, three of them made during the COVID-19 outbreak.