White paper clarifies 6 key facts about China-US trade, economic ties

BEIJING -- The Information Office of the State Council on Monday released a white paper, titled "The Facts and China's Position on China-US Trade Friction," clarifying six key facts about China-US trade and economic relations.

According to the white paper, the current US administration, in its Section 301 report and other ways, stigmatizes China by accusing it of "economic aggression,""unfair trade,""intellectual property rights (IPR) theft" and "national capitalism."

"It is a gross distortion of the facts in China-US trade and economic cooperation. It turns a blind eye to the huge progress in China's reform and opening-up as well as the dedication and hard work of the Chinese people," the white paper said.

"This is disrespectful to the Chinese government and people as well as incompatible with the real interests of the American people. It will only aggravate differences and tensions, which in the end will damage the fundamental interests of both countries," the white paper added.

The white paper clarified six key facts about China-US trade and economic relations: the gap in trade in goods alone is not a good indicator of China-US trade and economic relations; the discussion of fair trade should not be detached from the principle of mutual benefit of the World Trade Organization (WTO); the accusation that China forces technology transfer is against the spirit of contract; China's huge efforts and achievements with regard to IPR protection should not be dismissed; the Chinese government's encouragement to Chinese business to go global should not be distorted as a government attempt to acquire advanced technologies through commercial mergers and acquisitions; China's subsidy policy complies with WTO rules and should not be attacked.

In today's world of greater globalization and widespread international production, bilateral trade and economic cooperation already extend beyond trade in goods, according to the white paper.