China's new commerce chief upbeat on building ties with U.S. counterpart

China's new commerce chief upbeat on building ties with U.S. counterpart

China's new commerce chief upbeat on building ties with U.S. counterpart

China's top leaders have repeatedly warned that a trade war would bring no winners.

"A trade war is not in the interest of the two countries and the two peoples", China's Minister of Commerce Zhong Shan told reporters on the sidelines of the country's annual political gathering in Beijing.

Analysts say the threat of deteriorating US-China ties is likely to depress confidence of exporters and investors around the world.

Zhong stressed that USA also relies on China and that the growth of US exports to China in recent years has exceeded the growth of Chinese exports to the U.S.

Zhong noted that China and the United States are mutually reliant and very important to each other.

The commerce secretary also commented that he was looking forward to meeting new US Commerce Secretary Wilbur Ross, saying that as an "experienced negotiator", his counterpart must be willing to "play the long game and think strategically".

March 12 (ANI): Issuing a warning to US President Donald Trump, China has said that any trade war between the two countries will bring nothing but harm.

Zhong also spoke about China's growing outbound investment, noting that a small number of Chinese companies had invested overseas "blindly and irrationally" in ways China did not encourage.

He took the case of export statistics in the last decade, when U.S. exports to China grew "much faster" than those from China to the United States - the average annual growth of USA exports to China stood at 11 percent, while China's annual growth rate of USA exports was 6.6 percent.

On Thursday, Zhong's American counterpart Wilbur Ross said that the trade conflict with China and other countries has already been on for decades, but the USA is just now beginning to fight back. He said the government would step up regulation around such investments.

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