He Yadong: Friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. I’d like to start by sharing a piece of information with you.

1. China's overseas investment in the first four months of this year

In the first four months of 2024, China's outbound non-financial direct investment reached 343.47 billion yuan, up 18.7 percent year on year. Non-financial direct investment by Chinese enterprises in Belt and Road partner countries reached 77.77 billion yuan, up 20.4 percent year on year.

In the first four months of 2024, overseas projects contracted by Chinese companies delivered a revenue of 313.42 billion yuan, up by 8.8 percent year on year. The value of newly signed contracts was 444.39 billion yuan, up by 9.3 percent year-on-year. The projects contracted by Chinese companies in Belt and Road partner countries delivered a revenue of 252.56 billion yuan, up 9.1 percent year on year. The value of newly signed contracts reached 386.29 billion yuan, up by 17.7 percent year-on-year.

Here are your questions.

China News Service: On May 20, the Ministry of Commerce published on its website two announcements on the work mechanism of the Unreliable Entity List. On the list were Boeing Defense, Space and Security, General Atomics Aeronautical Systems and General Dynamics Land Systems, and they are subject to the measures taken under the UEL. Can you give us more details?

He Yadong: There is only one China in the world. Taiwan is an inalienable part of China. The Taiwan question is crucial to China's core interests. "Taiwan independence" secessionist activities are the most destructive factor to peace across the Taiwan Straits. Boeing Defense, Space & Security, General Atomics Aeronautical Systems and General Dynamics Land Systems have repeatedly sold missiles, military drones, tanks and other offensive weapons to Taiwan, thereby conniving and supporting the "Taiwan independence" separatist forces, seriously undermining China's national security, sovereignty and territorial integrity, gravely violating the One-China principle and the three China-US joint communiques, and seriously undermining peace and stability across the Taiwan Straits. China will resolve the Taiwan question and achieve national reunification with unwavering determination. We will safeguard China's sovereignty and territorial integrity with extraordinary capability, and take decisive actions against "Taiwan independence" and foreign interference. In accordance with the Foreign Trade Law, the National Security Law and the Provisions on the Unreliable Entities List, China has decided to put Boeing Defense, Space and Security , General Atomics Aeronautical Systems and General Dynamics Land Systems of the US to the Unreliable Entities List and take measures accordingly. This is normal law enforcement by China in accordance with law. Thank you.

The Cover: Recently, the Ministry of Commerce made an announcement to launch anti-dumping investigation against imports of polyformaldehyde copolymer from the European Union, the United States, the Taiwan region and Japan. Can the Ministry of Commerce give us more details?

He Yadong: This investigation was launched in accordance with the law at the request of the industry on Chinese mainland. After reviewing the application, the Ministry of Commerce found that it met the conditions for filing an anti-dumping investigation, and will conduct the investigation in accordance with the laws and regulations of the Chinese mainland and the rules of the WTO. Thank you.

Economic Information Daily: The announcement said that the US company Caplugs transferred goods purchased from China to enterprises on the list of unreliable entities, and reminded domestic enterprises to be aware of risks of illegal transfer when doing business with them. May I ask how the relevant Chinese enterprises should accurately understand and implement the announcement?

He Yadong: There is evidence that Caplugs transferred goods purchased from China to companies on the Unreliable Entity List, thus suspected of circumventing the Provisions on the Unreliable Entity List. We believe that it is necessary to warn companies of risks in dealings with the company and urge the company to take measures to redress this issue, otherwise further measures will be taken against the company in accordance with the law and regulations.

In carrying out export business, especially when the transaction party involves Caplugs, which poses risks, exporters should pay attention to the risk of illegal transfer, perform due diligence, enhance the duty of care, strengthen the management of trade flow, and take appropriate measures to ensure that goods, technologies and services purchased from China are not transferred to foreign entities on the list of unreliable entities. Specifically, they must verify the transaction information and the final transaction object, and require the counterparty to promise that the goods, technologies and services purchased from China will not be transferred to the enterprises on the unreliable entity list. Thank you.

Shanghai Securities News: This time, China has once again used the Unreliable Entity List. Does it signal a change of attitude toward foreign investment?

He Yadong: The Chinese government is committed to promoting high-level opening-up, upholding the multilateral trading system and safeguarding the legitimate rights and interests of all market operators. As always, China approaches the list of unreliable entities with prudence, targeting only a handful of foreign entities that threaten China's national security. Foreign entities that are honest and law-abiding have nothing to worry about. The Chinese government, as always, welcomes foreign investment, and is committed to providing a stable, fair and predictable business environment for law-abiding foreign companies operating in China. Thank you.

CNBC: Does the Ministry of Commerce plan to launch more anti-dumping investigations or add more U.S. companies to the Unreliable Entities List in the near future? What are the conditions for moving forward or backward with these actions?

He Yadong: China has carried out relevant work in accordance with law and regulations, whether it is an anti-dumping investigation or the Unreliable Entities List. We will fully protect the rights of all parties, and address the issue in a fair, just and prudent manner. Thank you.

Reuters: It is reported that China is considering imposing tariffs on imported cars with large engine capacity, or engine capacity above 2.5 liters in retaliation for European and American restrictions on Chinese auto exports. Can you confirm this information? Is China considering raising the tariff rate?

He Yadong: We have noted relevant reports. China is firmly committed to green and low-carbon development. We encourage and support green and low-carbon transformation of all industries to achieve high-quality development. Experts in various fields, including the automotive industry, are also conducting research on this issue and making recommendations for addressing global climate change.

What I want to stress is that some countries and regions, contrary to the concept of green development, the principles of market economy and WTO rules, have introduced some restrictive measures against new energy vehicles. We believe that these measures will only harm the interests of their domestic consumers and hinder global efforts to achieve green transformation and address climate change. Thank you.

Bloomberg: If the European Union imposes tariffs on Chinese electric vehicles, how will China respond?

He Yadong: On your question, China has made clear its principle and position on many occasions. Thank you.

(All information published on this website is authentic in Chinese. English is provided for reference only.)