China’s Ministry of Commerce held a regular press conference on January 29, and its spokesman Shen Danyang released information in two aspects. The first one is the new progress made by the ministry in economic diplomatic work since 2014. The other one is the overall situation of trade disputes China handled in 2014. He also responded to 10 hotspot and sensitive issues highly concerned by domestic and foreign media.

1. New progress in economic diplomatic work of the Ministry of Commerce since 2014

As you all know, the Ministry of Commerce is a department that is in charge of domestic and foreign trade and international economic cooperation. Actually, it is also the leading department of economic diplomatic work. In 2014, the Ministry of Commerce carried out a great amount of fruitful economic diplomatic work, and played an important role.

In implementing the “Belt and Road” initiatives, the Ministry of Commerce, through strengthening domestic and foreign coordination, has expanded economic and trade communication with the countries along the “Belt and Road”, gradually promoted the connective level of the countries and promoted regional economic integration and common prosperity since last year, and has made much progress, which is mainly represented in three aspects. Firstly, we signed related memorandum of cooperation with some of the countries, deepened trade and investment cooperation with the countries and raised the level of mutual trade and investment facilitation. Secondly, a large number of cooperation projects were carried out smoothly. For example, the Moinak Hydro Power Station with 300,000 kilowalt was put into operation; the second stage of the project of Duschanbe No. 2 thermal power station in Tajikistan was started duly; the construction and operation of the China side of the first cross-border international cooperation center in the Eurasian region—the China-Kazakhstan Khorgos international border cooperation center began to take shape; the first stage of the China-Tajikistan highway has been completed; and the restoration of the connecting line of the Schal-Schal tunnel of Tajikistan was also completed. A batch of connective projects like the China-kazakhstan logistics transit base and the upgrading and reform of the China-Pakistan Karakoram Highway started consecutively. Thirdly, trade and investment cooperation with the countries was further expanded. In 2014, trade in goods with the countries surpassed US$ 1 trillion to reach US$ 1.1206 trillion, accounting for 26% of the national total. In January-November, the non-financial direct investment of Chinese enterprises in the countries reached US$ 10.3 billion, accounting for 11.5% of the national total, and the completed revenue of contract projects was US$ 52.5 billion, accounting for 43.3%, which showed that China’s contracting enterprises were highly welcomed by the countries. It is worth noting that through expanding export and foreign investment, and adding goods supply of the return trip, the efficiency and level of China’s high-speed cargo trains to Europe, which are capable of shipping containers (China-Europe Train), were obviously promoted. In 2014, the number of the China-Europe trains increased to 21 from 9, with the transport capacity doubling, and the volume of goods transported in 2014 tripling. The volume of export goods transported by China-Europe trains is estimated to have reached about US$ 14 billion.

In implementing the strategy of free trade zones, the construction of 10 free trade zones drew attention in 2014. The China-Switzerland and China-Iceland Free Trade Agreements were comprehensively implemented in 2014. The China-ROK and China-Australia FTAs, the two most influential, comprehensive and content-rich FTAs of China, concluded the substantial negotiations, realizing a historical breakthrough of the construction of FTAs. We also launched the upgrading negotiations of the China-ASEAN FTA, and promoted the Regional Comprehensive Economic Partnership (RCEP) to the stage of substantial consultation. We positively promoted the negotiations of the China-Japan-ROK FTA, launched the China-Sri Lanka FTA negotiations, completed the feasibility study of the China-Israel Free Trade Unites, and launched the feasibility study of the China-Moldova Free Trade Unites. We also steadily promoted the negotiations of the follow-up consultancy of ECFA, speeding up the progress of realizing liberalization of trade in service between the mainland and Hong Kong and Macao. Driven by the FTA agreements, in 2014, the growth of export and import between China and its FTA partners was 2 percentage points higher than that with other countries, and the growth of the export was 5 percentage points higher than that with other countries.

We took part in the formulation of economic and trade rules internationally. We successfully held the APEC Trade Ministers’ Meeting, laying a solid foundation for the success of the APEC Economic Leaders’ Meeting. We positively urged the WTO to deliberate and approve the Trade Facilitation Agreement, boosting the confidence of all the parties in the multilateral trade system, and launched negotiations on environmental products with 14 WTO members including the U.S. and the EU, and reached consensus with the U.S. on the expansion negotiation of information technology products. We also comprehensively participated in G20 group and BRICS, further promoting China’s influence and discourse power in international governance.

We deepened a series of important bilateral trade and economic cooperation programs. The China-EU economic and trade cooperation is the most remarkable. Driven by the two parties, China-EU trade enjoyed a rapid and balanced development. The EU has been the largest trade partner of China for 10 consecutive years. In 2014, China-EU trade reached US$ 615.1 billion, accounting for 14.3% of the total export and import of China in the same period, up 9.9% year on year, the highest in the recent three years. Through China-EU high-level reciprocal visits and the China-EU Economic and Trade Joint Committee, bilateral cooperation in the fields of finance, energy, ship building and ecological parks was broadened, and China-EU investment agreement negotiations were strengthened. The non-financial direct investment of Chinese enterprises to the EU enjoyed a growth spurt, reaching US$ 9.848 billion, hitting a new record, 1.44 times the EU’s investment to China and up 117.7%, more than twice, which was also the highest in the recent five years.

China-U.S. Trade and economic cooperation also gained fruitful achievements. Bilateral trade in 2014 recorded a new high, reaching US$ 555.1 billion, up 6.6% year on year. The investment of Chinese enterprises to the U.S. was US$ 5.24 billion, up 24% year on year. The 25th China-U.S. Joint Commission on Commerce and Trade was successfully held, the 6th China-U.S. Strategic and Economic Dialogue gained positive achievements and China-U.S. cooperation between states and provinces was in the ascendant. China-U.S. investment agreement negotiations achieved phased fruits and the preparations for the first bid of the negative list went smoothly.

As for China-Africa trade and economic cooperation, in 2014, bilateral trade reached US$ 221.88 billion, 2 percentage points higher than China;s total foreign trade in the same period. Among which, the export of mechanical and electronic products and high-tech products was up 13% year on year. The turnover of completed contract projects of China in Africa was US$ 46 billion, up 26% year on year. Three of the five countries that China newly signed the most contracts with were in Africa. The year 2015 marks the 15th anniversary of the foundation of the China-Africa Cooperation Forum, and the 6th ministerial meeting of the forum will be held in South Africa. China will, together with Africa, try to make the meeting successful.

China’s trade and economic cooperation with other regions also gained delightful progress. For example, trade and economic cooperation with countries and regions in Middle East, South America, North America, Australia and New Zealand achieved great progress. I will not enumerate it considering the time limit.

In 2015, we will continue to carry out the economic diplomatic work taking trade and economic cooperation as the main channel. Depending on comparative advantages, and taking sources, market and technology as the priorities, we will bolster China’s multilevel economic and trade communication and cooperation with all countries in all directions and broad sectors, and full play the ballast and propeller role of trade and economic cooperation in bilateral relations, in order to promote China’s economic diplomacy to open a new chapter.

2. Information on combating trade disputes in 2014

In 2014, there were 22 countries and regions that launched 97 trade remedy investigations against Chinese export products. Among which there were 61 anti-dumping investigations, 14 countervailing investigations and 22 safeguard measures with involved volume US$ 10.49 billion. Besides, the U.S. launched 12 “337 investigations” and the EU launched one anti-circumvention investigation and one anti-assimilating investigation respectively against Chinese products.

The trade disputes China encountered in 2014 had three features. Firstly, trade protectionism picked up. In 2014, the world economy witnessed a weak recovery and trade protectionism picked up. Some large trade countries strengthened their investigation and enforcement of trade remedy, and increased their protection of domestic industries. The number of investigations targeted at China was still big. Secondly, high-tech products became the new hotspot of disputes. China’s exported photovoltaic products, wind generating sets and mobile phones met with trade remedy investigations consecutively. For example, the U.S., Canada and Australia all launched anti-dumping and countervailing investigations against China’s photovoltaic products. Thirdly, a wide range of industries was influenced. The number of investigation cases in the fields of metal and minerals, chemical industry, electromechanical products, light industries, textile industry, medicine and health care and foodstuffs, native produce and animal by-products were 38, 23, 17, 13, 3, 2 and 1 respectively. Among which, cases involved steel and steel products were the most, reached 27, with the involved volume US$ 2.32 billion.

Currently, China’s economic development is still faced with severe and complex situations. With the combination of the picking up of international trade protectionism, a tense external environment and severe domestic market competition, the number of foreign trade remedy investigations that China’s products will encounter will still be large. To some extent, frequent trade disputes are an attendant phenomenon of China’s being the largest goods trader and the second largest economic entity. We will continue to follow the reciprocal principle, object to trade protectionism, and actively carry out diplomatic negotiation and consultation. We will settle disputes through industrial dialogue and cooperation, and adopt different measures for different situations, combating trade disputes practically and efficiently.

3. On hotspots and sensitive issues

Going forward, I’ll answer 10 questions on hotspots and sensitive matters that concerned the media at home and abroad a lot recently.

1. Some media asked that it has been reported by overseas media that China’s import of rice last year saw a multifold growth and it was because of consumers’ worries about domestic rice. What’s MOFCOM’s comment on it?

A: Our answer is that’s not the fact and such saying is kind of trouble-maker. Why? That’s because according to the statistics of the General Administration of Customs, China’s import of rice in 2014 was 2.58 million tons, taking up 1.3% of the domestic output, going up 13.6% year on year. That is not a multifold growth at all.

I think the growth of rice import could be attributed to two reasons. The first one is that the difference in prices at home and abroad has upgraded enterprises’ import intention. The second reason is some domestic high-income consumers’ and fancy restaurants’ increasing demands for overseas rice such as Thai fragrant rice and Japanese rice. They are the results of market forces. Certainly, although the imported rice takes up a small percentage and it’s unnecessary to make a fuss, we will pay close attention to it moving forward.

2. Some media asked, as it’s reported recently that signs show China’s investment projects in Myanmar are faced with more and more opposite voices and the Myanmar government’s review on Chinese investment will be intensified, so how MOFCOM comments on it?

A: China and Myanmar are highly complementary to each other in economy. Myanmar has been a major destination of Chinese investment for long, and China is also an important source of investment for Myanmar, and Chinese enterprises have made great contributions to Myanmar’s economic development, job promotion and tax payment by investment. The Chinese government, on one hand, has encouraged its enterprises to continue to play a constructive role, and on the other hand, required its enterprises to do business in line with local laws and regulations, pay attention to local people’s livelihood, fulfill necessary social responsibilities, protect the environment and respect local customs.

We hope that all parties could treat Chinese enterprises’ investment in Myanmar fairly, and hope that the Myanmar side could safeguard Chinese investors’ legitimate and proper rights along with creating sound conditions for them.

3. Some media noticed that the latest data released by the Japanese Ministry of Finance showed that in 2014, Japan’s trade deficit with China came to 5.79 trillion Yen, up 14.9% year on year, with both import and export value and trade deficit hitting a historic high. On the contrary, the drop of Japan’s investment in China has been the lowest point since 1989. What’s the comment of the Chinese side?

A: The Ministry of Commerce has noticed the data released by the Japanese side, and we have noticed that statistics were done with Yen as the unit. Since the Yen has depreciated sharply over recent years and Yen’s exchange rate margin is relatively high in the long run, there are differences between the statistics by Yen and by U.S. dollar. For example, according to the data released by the Japanese side on its trade with China in 2013, Japan’s import and export went up 17.4% and 9.7% year on year respectively in terms of Yen, but went down 3.7% and 10.2% year on year respectively in terms of US dollar. On the bilateral trade deficit, according to the statistics by the Chinese side, China’s trade deficit with Japan in 2014 was US$13.56 billion, going up 13% year on year.

The sluggish situation of China-Japan trade and economic cooperation has resulted from various economic factors. There is no denying that the severe bilateral political ties also have some impacts. The Chinese government attaches great importance to the friendly cooperation with the Japanese side, and has made active efforts to raise China-Japan trade and economic relations to a higher, wider and deeper level. We hope that the Japanese side could carry out the consensus reached by President Xi Jinping and Prime Minister Abe Shinzou with practical actions, strive for the same goal with China to improve the bilateral ties and create sound conditions to restore, consolidate and upgrade the bilateral trade and economic relations.

4. Recently, the European Central Bank (ECB) decided to keep key interest rates unchanged, and then the head of the ECB announced the plan to expand asset purchase--the European Quantitative Easing that people are concerned about. What influence may it have on global trade, especially on the China-EU trade?

A: It’s reported that the ECB began to carry out a new round of QE plan on January 22. It will purchase 60 billion euros assets including national debt from members of the Eurozone every month from this March to September 2016 at least. Meanwhile, it will also strive for a goal of a sustainable inflation rate of 2% in the Eurozone with a bond purchase of at least 1.14 trillion euros, and the plan will be carried out in line with the equity ratio member countries account for in the ECB.

If the report is true, we believe that the European QE plan may be able to sheer up the confidence of the market, reduce the sovereign financing cost of member countries, stimulate the Eurozone to expand exports and create beneficial conditions for economic growth in the short term, but in the long run, it’s still not clear to see whether the QE plan is able to stop the Eurozone from a secular stagnation and realize a full recovery and growth.

The EU is China’s largest trading partner, largest source of import and the second largest export market. As I have introduced that the China-EU bilateral trade maintained good momentum in 2014 with a total import and export value of US$615.1 billion, going up 9.9% year on year. Among others, US$370.9 billion was China’s export to the EU, up 9.4% year on year; US$244.2 billion was China’s import from the EU, up 10.7% year on year. We believe that the European QE plan is bound to have some overflow effect on the China-EU bilateral trade with both pros and cons. For example, the QE plan will boost the Euro to further depreciate, which is conducive to increasing Chinese businesses’ imports from the EU market and reducing their investment cost in the EU. In the meanwhile, the depreciation of the Euro is not conducive to Chinese businesses’ export to EU and their present investment in the EU may also go through losses. In addition, the European QE plan may also aggravate a competitive depreciation of the world’s currencies and may add uncertainties to the global cross-border capital flows. We will pay close attention to it.

5. The U.S. Department of Commerce believed that there is dumping in some Chinese enterprises’ exports of tyres to the U.S., and made a preliminary ruling to levy the highest anti-dumping tax of 87.99% on tyres of saloon cars and light trucks imported from China. The relevant institutions in the EU also launched an anti-dumping investigation on PV glasses recently. Some media hope to know more about the two cases as well as MOFCOM’s attitudes towards them.

A:The U.S. Department of Commerce released its preliminary ruling on the anti-dumping investigation against the tyres of saloon cars and light trucks originated in China on January 21, 2015. The tax rates for Chinese enterprises involved in this case was 19.17% and 36.26% , and the flat tax rate was 87.99%, but many state-owned Chinese enterprises involved in this case were refused to give an average tax rate but a national flat tax rate. We also notice that the EU institutions launched an anti-dumping re-investigation on the PV glasses imported from China in mid-December 2014.

The Chinese side showed great concern over the above-mentioned case. We believe that there are many defects and unfairness concerning the U.S. tyre case from its registration to the ruling. Firstly, the applicants were the U.S. Trade Union, rather than the tyre manufacturers. Moreover, the U.S. tyre manufacturers do not support the case but have to keep neutral under pressure from the Trade Union. Secondly, statistics show that the U.S. tyre enterprises perform well and the imports from China have not impair U.S. industries. Thirdly, the U.S. relevant institutions ignore the ruling made by the WTO, insist on its wrongdoings and refuse to give a separate tax rate treatment to the state-owned Chinese enterprises involved in that case.

We must point out here that the U.S. took special safeguard measures on the above-cited Chinese tyres in 2009, which severely impaired the China-U.S. trade and economic relations. We hope that the U.S. side could draw lessons from the past, deal with the case prudently, and avoid destroying bilateral trade and cooperation in relevant industries once again and making factors of disharmony in the China-U.S. trade.

On the anti-dumping investigation against the PV glasses, the Chinese side hoped the EU side to give the Chinese enterprises enough defense opportunities, investigate objectively and make a fair and just ruling in accordance with law.

6. Recently, the State Administration for Industry and Commerce has made public the directional monitoring results of Internet-based commodities in the second half of 2014, and some relevant enterprises raised objections. The media have widely reported this and many want to know what comments the Ministry of Commerce would make on this.

A: The Ministry of Commerce has noticed and paid high attention to this situation. On this, the head of the Office of the National Leading Group on the Fight against IPR Infringement and Counterfeiting affiliated with MOFCOM has already made a statement on the website of MOFCOM and here I would like to reiterate it.

Firstly, we must see that domestic online shopping has enjoyed a rapid development in recent years and the increase of turnover has exceeded 40% for three consecutive years. China has become the largest network retail market in the world. Online shopping brings much convenience and benefits to residents and merchants with the characteristics of convenience and efficiency and low cost, and plays a positive role in driving employment and promoting consumption.

But at the same time, we should also see that the problems of making and selling infringement and counterfeit commodities and buying fake products on purpose are still prominent. With the rapid development of China’s e-commerce, there exist problems of selling fake and substandard products on line and online piracy with obvious influences. Solving these problems need joint efforts of the government, enterprises, consumers and all sectors of society.

Secondly, we would like to tell you that the Office of the National Leading Group on the Fight against IPR Infringement and Counterfeiting has always put cracking down on infringement and counterfeiting on the Internet as the priority. Efforts have been made to take such measures as reinforcing the supervision on e-commerce websites and online monitoring, strengthening source administering of production and processing and enforcing the law of cross-border intellectual property protection, deploy and carry out special remediation nationwide, investigate and treat more than 11,000 illegal crime cases, close and block more than 3,400 websites and track down almost 9,000 batches and more than 220,000 outbound infringing goods. Meanwhile, all online shopping enterprises have been asked to strengthen internal management. Many enterprises have established departments and professional teams against infringement and counterfeiting and took such measures as compliant handling of rights protection, real-name authentication and rating of members, casual inspection by “mystical buyers” and cooperation with intellectual property right holders and government departments.

Finally, MOFCOM will continue to do a good job in special remediation of infringement and counterfeiting in the field of the Internet, perfect laws and regulations in the e-commerce field, fully take advantage of such new-generation information technologies as big data, the Internet of Things and cloud computing to improve the ability of market supervision, strengthen cooperation between governments and enterprises and industrial associations, urge enterprises to further implement entity responsibilities, increase the force of preventing infringement and counterfeiting, improve internal management and enhance the level and efficiency of protection and control. Meanwhile, efforts should be made to improve the awareness and abilities of consumers to be aware of boycotting infringement and counterfeiting products by publicity and training and form a new pattern of joint and diversified governance by society to promote sound development of China’s e-commerce industry and create a satisfying online shopping environment for consumers.

7. After the release of the pilot program of parallel imported cars in the China (Shanghai) Pilot Free Trade Zone, some media reported that this pilot program proposed many requests for enterprises which apply for carrying out pilot business of parallel imported cars with responsibility clauses. The market of imported cars may be still faced with difficult situation. What specific consideration does MOFCOM have on promoting the pilot program?

A: In order to explore the institutional innovation of the management of imported cars, Shanghai has positively proposed to carry out the pilot program of parallel imported cars in the China (Shanghai) Pilot Free Trade Zone and MOFCOM has supported Shanghai to carry out this pilot program after holding consultations with such departments as the National Development and Reform Commission, the Ministry of Industry and Information, the General Administration of Customs and the Administration of Quality Supervision, Inspection and Quarantine.

Parallel importing of cars is a kind of distribution mode different from the sales model of brand authorizing, which means that traders directly buy cars from source areas and overseas markets and import them into the Chinese market to sell without authorization of brand manufacturers. Carrying out the pilot program of parallel imported cars in the pilot free trade zone is a breakthrough to the existing authorized operation mode of the Implementing Measures of Sales and Management of Automobile Brands. The China (Shanghai) Pilot Free Trade Zone plays a leading and exploratory role in carrying out this pilot program, which can innovate sales models of imported cars, improve the management system of car sales, accumulate experience in promoting sound development of the automobile market and form propagable and reproducible institutional results. MOFCOM vigorously supports this pilot program.

Parallel importing of cars, as a new kind of automobile trade mode, is inevitably faced with some new problems. In fact, there exists some different understanding for the gain and loss of this trade mode. Therefore, we agree that this pilot program should adhere to the principle of standardization, orderliness and risk controllability and focus on practically protecting consumers’ rights and interest with steadily progress. It is believed that this pilot program can not only accumulate experience for formulating new automobile sales and management measures and promoting system reform of cars circulation, but also contribute to summarizing and using experience in the supervision modes and the construction of after-sales service system to better standardize the management of cars circulation and promote fair competition of the market.

8. Mexico’s high-speed rail project bidding has restarted recently and Chinese enterprises have decided to compete for the bid again. Many media are wondering what kind of comments and expectations MOFCOM have on this.

A: Chinese high-speed rail technology is advanced, safe and reliable with high performance and rich operating experience. The latest data of the Beijing-Shanghai express railway released by the China Railways Corporation are very convincing and we think that the cooperation between China and Mexico on high-speed rail projects is mutual benefit and win-win.

Not long ago, the combo of Chinese and Mexican enterprises have succeeded in winning the bidding in the high-speed rail between Mexico and Queretaro by their own competitiveness according to the tendering procedures of Mexico. Chinese enterprises always abided by the tendering procedures and requirements of the Mexican government in the process of participating in this project tender. The content of tender was also in accordance with the regulations of its biding document. The result is totally fair and legal and we feel sorry for the cancellation of the bidding result by the Mexican government.

Recently, Chinese enterprises have participated in the competitive bidding of this project again. The Chinese government always encourages Chinese enterprises to take part in overseas infrastructure construction based on the principle of mutual benefit and win-win. We hope that the Mexican government can treat the bid of Chinese enterprises fairly and objectively according to law and complying with international conventions, create an equal competitive environment for bid enterprises and promote relevant cooperation to obtain substantial results early. The Chinese government believes that Chinese enterprises possess strength and capacity to participate in international competition no matter in terms of funds or with regard to technologies.

9. Some media reported that Microsoft gradually shut down Nokia’s two mobile phone production lines in China after it purchased the mobile phone and service businesses of Nokia. Some other media said that Panasonic of Japan would withdraw two color TV production lines from China in the near future. Many media are wondering what comments the Ministry of Commerce made on this.

A: We think that in recent years, influenced by such factors as increasing cost like labor force, slow market demand growth for relevant products and poor performance of enterprises, a few multinational corporations have adjusted their business in China, but from a general view, the number is limited. At present, no foreign-invested enterprises withdraw capital on a large scale. Recently, some media reported that Microsoft gradually shut down Nokia’s two mobile production lines in China after it purchased the mobile phone and service businesses of Nokia. As far as we know, on the one hand, it is because the market competition in the mobile phone industry in China and the whole world is fierce and the market pattern experiences tremendous changes. On the other hand, multinational corporations adjust their own global strategies.

As for the media report that some Japanese household appliance maker plans to withdraw production lines from China, as far as we know, it is not a common phenomenon. On the contrary, according to media reports, some Japanese enterprises plan to move production lines to China. For example, Panasonic has confirmed to the media recently that they have decided to transfer part of the production line of LUMIX digital camera from Fukushima, Japan to Xiamen, China and the transference work will be completed in May.

We believe that people should see that in China now it is politically stable, the market is increasingly expanded, the abilities of associated industries are gradually enhanced, various fields continue to open wider to the outside world and the business environment is continuously improving and is still very attractive to global capital. According to the 2014 World Investment Report released by the United Nations Conference on Trade and Development, China ranks the first in the 2014-2016 Most Promising Host Economies elected by the World Investment Promotion Agency. According to the statistics of MOFCOM, the amount of foreign capital actually used in China in 2014 reached US$119.6 billion, an increase of 1.7% year on year. China has ranked the first for 23 consecutive years in the developing countries in terms of foreign capital attraction, and this has been proven.

Multinational corporations often take such measures as merging and reorganization in the process of implementing globalization strategies, to readjust and distribute their global business, which are normal business activities. On the one hand, the Chinese government needs to create a sound investment environment for foreign-invested enterprises and assist them to operate well and develop well. On the other hand, we will pay close attention to the termination and removing of foreign-invested enterprises, guide our commercial departments at all levels and foreign-invested enterprises to handle relevant procedures according to law, duly deal with various problems in the process of the reshuffle of enterprises and the adjustment of business, and urge foreign-invested enterprises to operate according to law, practically guarantee legal rights and interests of employees and perform their social responsibilities well.

10. Recently, Reuters reported that the new government of Greece has announced to halt the sale processes of the majority interest of its largest port Piraeus Port and Chinese enterprises possess partial right of management of this port. The media want to know what kind of influence the behavior of the Greek government will have on the development of Chinese enterprises in Greece.

A: We have got known about this also from media reports that the new government of Greece announced to halt private projects like Piraeus Port on January 28. We pay great attention to this.

Bilateral relations and trade and economic cooperation between China and Greece have always been sound. The cooperation by China’s Cosco Group in the second and third container terminals of Piraeus Port has set a successful example for the two countries to realize win-win results and conformed to the well-being of the peoples of the two countries.

MOFCOM will continue to pay close attention to relevant policy trends of the new government of Greece, maintain communication with the Greek government and urge the Greek government to safeguard the legitimate rights and interests of Chinese enterprises in Greece including Cosco Group.

The above-mentioned are the situations and answers to some questions. Thank you for your participation.