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English>>China Business

Ministry urges US, EU to stop 'politicizing' Chinese trade (3)

By Ding Qingfen (China Daily)

10:39, November 22, 2012

Zhou added that in Europe too, officials are stepping up their challenge of China's trade practices as countries struggle with an ongoing debt crisis.

Early this month, the EU announced it was launching an anti-subsidy investigation into Chinese exports.

The announcement dealt a serious blow to Chinese solar panel exporters, given that 60 percent of China's exports of panels and components went to the EU last year.

In his report to the 18th National Congress of the Communist Party of China, Hu Jintao, general secretary of the 17th CPC Central Committee, said that China should appropriately address such trade frictions through consultation, seek further liberalization of international trade and investment, and fight trade protectionism.

Chong Quan, the Ministry of Commerce spokesman on trade negotiations, said this week that China, and Chinese exports in particular, will have to continue to face the challenge of rising trade protectionism.

And this, combined with other factors such as shrinking overseas demand and fierce global competition, will hurt the growth of China's foreign trade.

Economists have warned that the global economy could continue on a rocky road into 2013. Latest figures showed the US economy grew at a tepid 2 percent in the third quarter, and the last quarter is expected to be even weaker.

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