Sign up
Log in
George
China-White Paper/Industrial Chain
Beijing, China - Sept 25, 2018 (CCTV - No access Chinese mainland)
1. State Council Information Office press conference in progress
2. Reporter asking question
3. Press conference in progress
4. SOUNDBITE (Chinese) Luo Wen, Deputy Director, Ministry of Industry and Information Technology (MIIT) (starting with shot 3/partially overlaid with shots 5-6):
"First, the tariffs will cut the links between the industries of different countries, putting the global industrial chain under the risk of fragmentation. The tariffs imposed by the United States may be said to have disrupted this normal system of international industrial division, resulting in disjoint between upstream and downstream in certain industries and is at a risk of leading to a fragmentation of the global industrial chain. Second, it breaks the existing international trade rules, leading the global industrial chain into a state of disorder. As we know, as of July this year, in addition to China, the major U.S. trading partners, including the European Union (EU), Canada and Mexico have also take countermeasures, so it should be said that the risk of a global trade war is clearly rising. Again under such background, the international trade rules may be disrupted or even upended. Without the foundational support of international trade rules, the global industrial chain will become more disorderly. Third, it reduces the efficiency of international economic operation and exacerbates the risk of inefficiency in the global industrial chain."
++SHOTS OVERLAYING SOUNDBITE++
5. Press conference in progress
6. Various of reporters taking notes
++SHOTS OVERLAYING SOUNDBITE++
7. Various of reporters
8. SOUNDBITE (Chinese) Luo Wen, Deputy Director, Ministry of Industry and Information Technology (MIIT) (partially overlaid with shot 9):
"Some foreign companies may choose to move to other countries for risk diversification and cost reduction. We need to be rational to view this problem. First, we will not shy away from the problem and should take more proactive measures to help the companies. To address the difficulties, we will continue to advance reform of government functions, lower tax burdens on the businesses and continue to improve the business environment. Second, we will not exaggerate the problem, and we will be confident in China's market potential and industrial network. Third, we will continue to further open up in accordance with our own pace."
++SHOTS OVERLAYING SOUNDBITE++
9. Reporter typewriting
++SHOTS OVERLAYING SOUNDBITE++
10. Press conference in progress
The U.S. tariff imposed on Chinese goods will have a major negatively impact on the global industrial chain and the foreign companies in China, said an official on Tuesday.
Luo Wen, deputy director of Ministry of Industry and Information Technology (MIIT) made the remarks Tuesday at a press briefing on the just-released White Paper, titled "The Facts and China's Position on China-U.S. Trade Friction", by the Chinese government.
Luo stated three major impacts of the U.S. tariffs on the global industrial chains and the three positions in dealing with the foreign companies who may remove from China due to the U.S. tariffs.
First, the tariffs will cut the links between the industries of different countries and cause the global industrial chain to the risk of fragmentation, said Luo, adding that in the context of economic globalization, the economies of all countries are deeply integrated into the cooperation in the global industrial chain.
Countries are no longer simply trading goods, but rely on the global production network to complete product development, design, processing and manufacturing, logistics and transportation, and marketing services, Luo said.
Luo added that industries of various countries depend on each other and are deeply integrated, forming a mutually-dependent relations of rising and falling together.
"The tariffs imposed by the United States may be said to have disrupted this normal system of international industrial division, resulting in disjoint between upstream and downstream in certain industries and is at a risk of leading to a fragmentation of the global industrial chain," said Luo.
Second, it breaks the existing international trade rules, leading the global industrial chain into a state of disorder.
Luo said the existing international economic and trade rules represented by the World Trade Organization (WTO) are an important cornerstone of global economic growth, however, the current unilateralism and protectionism of the United Sates have also forced countries in the world to take countermeasures.
"As of July this year, in addition to China, the major U.S. trading partners, including the European Union (EU), Canada and Mexico have also take countermeasures, so it should be said that the risk of a global trade war is clearly rising. Again under such background, the international trade rules may be disrupted or even upended. Without the foundational support of international trade rules, the global industrial chain will become more disorderly," said Luo.
Third, it reduces the efficiency of international economic operation and exacerbates the risk of inefficiency in the global industrial chain.
Luo said the U.S. tariffs impacted the normal product trade and resource allocation on a global scale and reduced the operating efficiency of the international economy. In April this year, the International Monetary Fund (IMF) released its World Economic Outlook report, saying that the rising tariffs and non-tariffs trade barriers will undermine the global value chain, slowdown the proliferation of new technologies, lead to lower productivity and investment, and escalate the risk of inefficiencies global industrial chain.
To respond the second question on the relocation of foreign companies, Luo believes that the cross-border investment and business transfer are independent business activities of enterprises to allocate resources on a global scale.
Luo said it is common that companies move in or out of a country, which is totally normal and it is also an inevitable outcomes of economic globalization.
At present, the current trade friction provoked by the U.S. may cause some disruptions and impacts on some Chinese companies, and some foreign companies may choose to move to other countries for risk diversification and cost reduction. Luo said we need to be rational to view this problem.
First, China will not shy away from the problem and should take more proactive measures to help the companies, Luo said. To address the difficulties, China will continue to advance reform of government functions, lower tax burdens on the businesses and continue to improve the business environment, he said.
Second, we will not exaggerate the problem, and we will be confident in China's market potential and industrial network, said Luo, noting that China has a huge market potential, in particular, the industrial supporting system is perfect, and there is a wide space for enterprise development.
Third, we will continue to further open up in accordance with our own pace, said Luo. He believes that more and more foreign companies will come to China to invest, and also believes that most of the foreign companies that have settled down in China will continue to develop their businesses in this country.
China-White Paper/Industrial Chain
Dateline : Sept 25, 2018
Location : Beijing,China
Duration : 2'46
Beijing, China - Sept 25, 2018 (CCTV - No access Chinese mainland)
1. State Council Information Office press conference in progress
2. Reporter asking question
3. Press conference in progress
4. SOUNDBITE (Chinese) Luo Wen, Deputy Director, Ministry of Industry and Information Technology (MIIT) (starting with shot 3/partially overlaid with shots 5-6):
"First, the tariffs will cut the links between the industries of different countries, putting the global industrial chain under the risk of fragmentation. The tariffs imposed by the United States may be said to have disrupted this normal system of international industrial division, resulting in disjoint between upstream and downstream in certain industries and is at a risk of leading to a fragmentation of the global industrial chain. Second, it breaks the existing international trade rules, leading the global industrial chain into a state of disorder. As we know, as of July this year, in addition to China, the major U.S. trading partners, including the European Union (EU), Canada and Mexico have also take countermeasures, so it should be said that the risk of a global trade war is clearly rising. Again under such background, the international trade rules may be disrupted or even upended. Without the foundational support of international trade rules, the global industrial chain will become more disorderly. Third, it reduces the efficiency of international economic operation and exacerbates the risk of inefficiency in the global industrial chain."
++SHOTS OVERLAYING SOUNDBITE++
5. Press conference in progress
6. Various of reporters taking notes
++SHOTS OVERLAYING SOUNDBITE++
7. Various of reporters
8. SOUNDBITE (Chinese) Luo Wen, Deputy Director, Ministry of Industry and Information Technology (MIIT) (partially overlaid with shot 9):
"Some foreign companies may choose to move to other countries for risk diversification and cost reduction. We need to be rational to view this problem. First, we will not shy away from the problem and should take more proactive measures to help the companies. To address the difficulties, we will continue to advance reform of government functions, lower tax burdens on the businesses and continue to improve the business environment. Second, we will not exaggerate the problem, and we will be confident in China's market potential and industrial network. Third, we will continue to further open up in accordance with our own pace."
++SHOTS OVERLAYING SOUNDBITE++
9. Reporter typewriting
++SHOTS OVERLAYING SOUNDBITE++
10. Press conference in progress
The U.S. tariff imposed on Chinese goods will have a major negatively impact on the global industrial chain and the foreign companies in China, said an official on Tuesday.
Luo Wen, deputy director of Ministry of Industry and Information Technology (MIIT) made the remarks Tuesday at a press briefing on the just-released White Paper, titled "The Facts and China's Position on China-U.S. Trade Friction", by the Chinese government.
Luo stated three major impacts of the U.S. tariffs on the global industrial chains and the three positions in dealing with the foreign companies who may remove from China due to the U.S. tariffs.
First, the tariffs will cut the links between the industries of different countries and cause the global industrial chain to the risk of fragmentation, said Luo, adding that in the context of economic globalization, the economies of all countries are deeply integrated into the cooperation in the global industrial chain.
Countries are no longer simply trading goods, but rely on the global production network to complete product development, design, processing and manufacturing, logistics and transportation, and marketing services, Luo said.
Luo added that industries of various countries depend on each other and are deeply integrated, forming a mutually-dependent relations of rising and falling together.
"The tariffs imposed by the United States may be said to have disrupted this normal system of international industrial division, resulting in disjoint between upstream and downstream in certain industries and is at a risk of leading to a fragmentation of the global industrial chain," said Luo.
Second, it breaks the existing international trade rules, leading the global industrial chain into a state of disorder.
Luo said the existing international economic and trade rules represented by the World Trade Organization (WTO) are an important cornerstone of global economic growth, however, the current unilateralism and protectionism of the United Sates have also forced countries in the world to take countermeasures.
"As of July this year, in addition to China, the major U.S. trading partners, including the European Union (EU), Canada and Mexico have also take countermeasures, so it should be said that the risk of a global trade war is clearly rising. Again under such background, the international trade rules may be disrupted or even upended. Without the foundational support of international trade rules, the global industrial chain will become more disorderly," said Luo.
Third, it reduces the efficiency of international economic operation and exacerbates the risk of inefficiency in the global industrial chain.
Luo said the U.S. tariffs impacted the normal product trade and resource allocation on a global scale and reduced the operating efficiency of the international economy. In April this year, the International Monetary Fund (IMF) released its World Economic Outlook report, saying that the rising tariffs and non-tariffs trade barriers will undermine the global value chain, slowdown the proliferation of new technologies, lead to lower productivity and investment, and escalate the risk of inefficiencies global industrial chain.
To respond the second question on the relocation of foreign companies, Luo believes that the cross-border investment and business transfer are independent business activities of enterprises to allocate resources on a global scale.
Luo said it is common that companies move in or out of a country, which is totally normal and it is also an inevitable outcomes of economic globalization.
At present, the current trade friction provoked by the U.S. may cause some disruptions and impacts on some Chinese companies, and some foreign companies may choose to move to other countries for risk diversification and cost reduction. Luo said we need to be rational to view this problem.
First, China will not shy away from the problem and should take more proactive measures to help the companies, Luo said. To address the difficulties, China will continue to advance reform of government functions, lower tax burdens on the businesses and continue to improve the business environment, he said.
Second, we will not exaggerate the problem, and we will be confident in China's market potential and industrial network, said Luo, noting that China has a huge market potential, in particular, the industrial supporting system is perfect, and there is a wide space for enterprise development.
Third, we will continue to further open up in accordance with our own pace, said Luo. He believes that more and more foreign companies will come to China to invest, and also believes that most of the foreign companies that have settled down in China will continue to develop their businesses in this country.
ID : 8091541
Published : 2018-09-25 13:28
Last Modified : 2018-09-25 20:47:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
More
