China is open to trade talks with the US, confident it can withstand potential tariffs. The government has introduced measures to support businesses, while the central bank aims to keep the yuan stable amid trade tensions.
China is open to engaging in active dialogue with the United States to advance bilateral trade, based on mutual respect, Vice Commerce Minister Wang Shouwen said on Friday. He expressed confidence that China could withstand external economic shocks, including potential tariffs from US President-elect Donald Trump.
Wang emphasized China's commitment to maintaining stable and sustainable economic relations with the US and expanding areas of cooperation while managing differences. He also noted that China is prepared to address trade disruptions, as US tariffs threaten to impact Chinese manufacturers and drive factory relocations to Southeast Asia.
In response to the potential trade challenges, Chinese authorities have introduced measures to boost foreign trade, including enhancing financing support for firms and increasing agricultural exports. Regarding the yuan, Liu Ye from China's central bank stated that it would remain stable at a reasonable level, despite the effects of trade turmoil, tariffs, and the pandemic. The central bank will maintain flexibility in the yuan’s exchange rate while guarding against excessive fluctuations.
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