Gao Feng: Dear friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. Since I don’t have any announcement to make today, I would like to take your questions right away.

Phoenix Satellite TV: What are the results of the vice-ministerial level economic and trade consultation between China and US from the 7th to the 9th January? What issues did the two sides discuss? What progress was achieved?

Gao Feng: As our previously-published statement suggests, in this consultation the two sides earnestly implemented the important consensus of our Presidents, and conducted extensive, in-depth and meticulous exchanges on the trade and structural issues of common concern, enhancing mutual understanding and promoting the resolution of each other’s concerns. Thank you.

21st Century Business Herald: The China-US consultations scheduled for January 7 to 8 went on into the late night of the 8th, and extended to the 9th, lasting two and a half days. What issues were discussed between China and the United States during the time added?

Gao Feng: The topics discussed by the two sides include trade issues and structural ones. The prolonged consultation time suggests that both sides were serious and candid in their consultations, and they were both striving to implement the important consensus of the two Heads of State. Thank you.

CBN: On December 30th CPTPP came into effect. It is reported that the agreement accounts for 13% of the global GDP and covers more than 500 million people. Has the Ministry of Commerce studied the specific impact that this agreement might bring to China and to world trade? Will China consider joining this agreement?

Gao Feng: We have noticed the latest developments of the CPTPP. At present, relevant countries are actively promoting regional free trade arrangements with a view to further advancing trade and investment liberalization and facilitation, meaning that the general trend of economic globalization has not changed.

China’s position on regional free trade arrangements is consistent. We firmly uphold the multilateral trading system and advocate the establishment of regional free trade arrangements that are in line with WTO principles, open and transparent, and mutually beneficial and win-win. The two are complementary to each other.

China is also making its own efforts to promote economic globalization and regional economic integration. For example, we are negotiating RCEP with relevant parties. The 16 negotiating parties cover more than 3.5 billion people, accounting for nearly 48% of the world’s total; their GDP combined accounts for more than 31% of the world’s total; their total foreign trade value accounts for nearly 28% of the world’s total. This will be a market with great potential.

China is willing to work with all parties concerned to follow the concept of mutual benefit and open development, jointly promote economic globalization and regional economic integration to a higher level and wider field, and build a community with a share future for mankind. Thank you.

South China Morning Post: You mentioned that in the latest round of China-US economic and trade consultation, the two sides talked about structural issues. According to the statement issued by the US, the two sides also talked about issues concerning forced technology transfer, intellectual property rights, non-tariff barriers and cyber intrusion. What is China’s attitude toward these issues? Do you have confidence to reach a consensus within the 90-day deadline?

Gao Feng: The structural issues you mentioned are an important part of this consultation. The two sides have made progress in the consultations in this field, and increased mutual understanding and laid the foundation for resolving each other’s concerns. Thank you.

Islamic Republic News Agency (IRNA): What is the trade situation and trade volume between Iran and China in 2018?

Gao Feng: China and Iran are important economic and trading partners. According to Chinese statistics, from January to November 2018, the bilateral trade volume between China and Iran was valued at 33.39 billion US dollars. In breakdown, China’s exports to Iran were 13.65 billion US dollars, and imports from Iran were 19.74 billion US dollars, maintaining a steady development momentum. Thank you.

China Business Herald: Recently, China’s first wholly foreign-owned project by foreign carmaker was launched in Shanghai. What impact will the establishment of this plant have on the competition in the Shanghai car market or even in the entire national market?

Gao Feng: As the first NEV company to launch a wholly foreign-owned project in China, Tesla witnesses and benefits from China’s further opening up. As a leading NEV company, a Shanghai factory by Tesla will help promote the development of China’s NEV sector, upgrade the industrial structure, offer more choices to domestic consumers and satisfy the diversified automobile consumption needs at different levels.

At present, the Chinese automobile market has entered a new phase of development with diversified demands and optimized structure. It is generally shifting from practical consumption to quality consumption, with huge market demand for NEV and other automobile products. We welcome companies around the world to invest and do business in China and share development opportunities in China’s automobile market. Thank you.

Reuters: After this round of China-US negotiations, has the US agreed to cancel the plan to levy more tariffs on March 2? During this negotiation, have China and the US reached any new trade consensus? If so, what is the specific consensus? If not, what are the areas remaining unresolved?

Gao Feng: In the statement we released this morning, we have already given detailed explanations about it. During this China-US economic and trade consultations, working teams of both sides exchanged views based on the consensus reached by the leaders of the two countries in an extensive, in-depth and detailed manner. In the next step, teams of both sides will continue to work together and advance consultations according to the original plan. Thank you.

AFP: According to the USTR statement, China has pledged to purchase a substantial amount of US agricultural, energy and other products. Has China made such commitments?

Gao Feng: Trade issue is part of this consultation and the two sides had a serious discussion about it. Thank you.

Hong Kong Cable TV: We have seen the US statement saying that there should be verification for China’s sustained and effective enforcement of the agreement. Does it mean that the two sides have weak basis of mutual trust or it is very hard to build a basis of mutual trust?

Gao Feng: I believe that you are referring to an enforcement mechanism. China also believes that the enforcement mechanism is vital to any agreement and both sides have the obligation to honor the agreement. Thank you.

TASS: How does MOFCOM view the economic cooperation and trade between China and Russia in 2018?

Gao Feng: 2018 was indeed a year of achievements for economic cooperation and trade between China and Russia. With the strategic guidance and personal care of President Xi Jinping and President Putin, economic cooperation and trade between China and Russia have stepped up quality improvement and upgrading. The bilateral economic cooperation and trade achieved new breakthrough in scale and quality, with ever strengthening internal impetus to growth.

First, bilateral trade has reached a new high. According to Chinese statistics, in the first eleven months of 2018, the bilateral trade between China and Russia reached US$ 97.24 billion, up by 27.8% year-on-year. The trade growth tops China’s key trading partners while China remains the No.1 trading partner of Russia and Russia is the tenth trading partner of China. According to initial statistics, by the midmonth of December, China-Russia trade had already exceeded US$ 100 billion, a new historical high. In addition, the structure of bilateral trade keeps improving. In the first eleven months of last year, the trade of electromechanical and new and hi-tech products between China and Russia grew by 15% and 29% respectively, while agricultural trade grew by 31%. The two sides are also developing new trade growth areas, such as e-commerce and trade in services.

Second, we’ve had productive cooperation in major strategic projects, covering areas such as energy, nuclear, aerospace, cross-border infrastructure as well as emerging areas of Arctic development and digital economy.

Third, we’ve had deepened and solid cooperation at sub-national levels. During the Year of China-Russia Sub-national Cooperation and Exchange, the two sides signed the Development Plan for China-Russia Cooperation in the Russian Far East 2018-2024 and the Development Plan for Agricultural Cooperation between Northeastern China and the Russian Far East and Baikal Region, deepening cooperation in the Russian Far East. The platforms of the CIIE and the Eastern Economic Forum brought the two countries closer at sub-national level and business level. The China-Russia Cooperative Development Fund was established to provide funding support to the cooperation projects.

Fourth, we continued institutional alignment. The two sides signed China-EEU Trade and Economic Cooperation Agreement, completed the joint feasibility study for the Eurasian Economic Partnership, laying a solid foundation for a higher-level economic arrangement in Eurasia. In addition, the two sides have maintained close communication and coordination in multilateral frameworks such as the WTO, BRICS, the SCO, and the G20 to support and safeguard the multilateral trading system and build an open world economy.

2019 marks the 70th anniversary of the diplomatic ties between China and Russia, ushering in new historic opportunities for our bilateral relations. China is willing to work with the Russian side to broaden, deepen and upgrade the bilateral trade and economic relations and inject strong vitality into the comprehensive strategic partnership. Thank you.

Caixin: The draft law on foreign investment is now open to public comments. How is it going?

Gao Feng: The draft law on foreign investment is now open to public comments. As far as I know, in addition to the channel on the website, the Legislative Affairs Commission of the NPC Standing Committee has held many symposiums to hear what the chambers, FIEs and experts have to say. MOFCOM is collaborating with the legislature on the deliberations and improvement of the draft. We encourage the public to continue contribute suggestions to this law. Thank you.

Financial Times: A technical question about the China-US consultation. What are China’s demands? The US is clear about how it wants China to change. Does China have demands for the US?

Gao Feng: I said that in this round of consultation, the two sides had broad, in-depth and detailed discussions on the trade issues and structural issues concerning both sides, increased mutual understanding and pushed for the resolution of each other’s concerns.

Comnews: Compared with previous consultations, is there any change of attitude or demands from the US team? I understand that the negotiation is about striking a balance and identifying the broadest common ground. What expectations does China have for the US?

Gao Feng: I said that in this round of consultation, the two sides had broad, in-depth and detailed discussions on the trade issues and structural issues concerning both sides, a step to conscientiously follow through on the leaders’ instructions.

Washington Post: Over the past couple of days, did the two sides discuss the possibility of Vice Premier Liu He visiting the US?

Gao Feng: The two sides are having close contact as to the arrangement for consultation in the next step. Thank you.

Any other questions?

If not, this is the end of the press conference. Thank you.