(ECNS) - Peng Huagang, deputy secretary general of the State-owned Assets Supervision and Administration Commission, said central state-owned enterprises are actively responding to the impact of Sino-U.S. trade frictions while also insisting on expanding cooperation.
Peng said state-owned enterprises must perform well in risk prevention on one hand and unswervingly pursue further opening and cooperation on the other.
The U.S. is bullying on trade in a world that is constantly integrating China's economy into global industrial and value chains, and countries are becoming increasingly interdependent.
“Sticking to the outdated thinking of a ‘zero-sum game’ and arbitrarily provoking a trade war will not only harm the interests of both parties but all stakeholders in the global industrial chain, so there will be no winners,” said Peng.
Peng added that from a business perspective, China expects clear, decided trade rules that no single party should arbitrarily change, as well as a good and fair trading environment that can benefit the recovery of the world economy.
China also hopes for stable and positive market expectations, rather than wayward behavior that produces no winners.
China’s state-owned enterprises are conducting serious research into the fallout of trade conflicts, said Peng.