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China is ready to respond to US duties

CHINA (OBSERVATORY) –┬áThe Ministry of Commerce of the PRC stated that the country, “unconditionally”, will respond if the US takes further measures that exacerbate trade tension. Beijing prepared a detailed, comprehensive plan to counter trade protectionism, writes Bloomberg.

Recently, the Chinese government has not held any talks with its American counterparts, official representative of the Ministry of Commerce of China Gao Feng said at a briefing on Thursday.

“We can not negotiate with a unilateral threat from the United States,” he stressed.

According to Gao, the measures to open the economy, promulgated by China, have nothing to do with the trade conflict with the United States. The Chinese government has never required foreign companies to share their technology to conduct business in the country, said a representative of the Ministry of Commerce.

“We will resolutely promote the” Made in China-2025 “plan,” he added.

The strategy “Made in China-2025″ is aimed at modernizing the manufacturing industry of the country.”

Fears about the trade conflict between the two largest economies in the world weakened on Wednesday after the chapter’s comments People’s Bank of China And Ghana.

Speaking at the Asian Economic Forum in Boao (Hainan Province), And said that China will allow domestic and foreign financial companies to compete on an equal footing. The country does not intend to devalue the yuan in connection with the trade dispute with the United States.

The head of the central bank repeated the previous promises of Beijing to open the financial sector. According to him, China will provide foreign investors with access to trusts, financial leasing, car loans and consumer lending by the end of the year. The government will also not impose restrictions on foreign ownership for investment in asset management companies.

Earlier, President Xi Jinping, speaking at the opening ceremony of the forum in Boao, promised to continue to open the economy of the country and reduce duties on a number of imported goods, including cars.

Meanwhile, Bloomberg reported on Tuesday, citing an anonymous source, that trade talks between the US and China broke down last week after the White House demanded that Beijing cut support for high-tech industries.