He Yadong: Friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. I have two pieces of information to share with you today.

1. The 7th Brand and Quality Online Shopping Festival

From April 28 to May 12, the Ministry of Commerce, together with related authorities, will provide guidance in holding the 7th Brand and Quality Online Shopping Festival. As part of the "Buy in China" initiative, this year's Festival is themed "Brand and Quality for a Better life". It features three key events around five major areas: quality e-commerce, quality foreign trade products, scene innovation, Silk Road Cloud products, and digital business development. The first event is the launching ceremony in Wuxi, Jiangsu Province. The second is the African Goods Online Shopping Festival in Hunan Province. The third is to coordinate multiple regions to jointly hold industrial and e-commerce business matching activities. More than 200 supporting activities will be organized in various regions. Friends from the media are welcome to cover and report.

2. China’s foreign investment and cooperation from January to March 2025

From January to March 2025, China’s outward direct investment across all industries reached USD40.9 billion, up 6.2% year-on-year. Among them, outward direct investment in non-financial assets reached USD35.68 billion, up 4.4%. In Belt and Road countries, direct investment in non-financial assets was USD8.87 billion, up 15.6%.

From January to March, Chinese firms reported a turnover of USD34.18 billion in overseas contracted projects, up 5.5%. New contracts amounted to USD58.67 billion, up 26%. Among them, Chinese enterprises reported a turnover of USD27.52 billion in contracted projects in the Belt and Road countries, up 4.1%. New contracts amounted to USD47.14 billion , up 16.3%.

This is my briefing. Now I’m ready to take your questions.

Now, please raise your questions.

China Media Group: In mid-April, President Xi Jinping visited Vietnam, Malaysia and Cambodia. Could you please tell us what achievements and consensus were reached in the economic and trade fields during this visit? What new changes will this visit bring to further deepening economic and trade cooperation?

He Yadong: This visit was the first overseas visit by President Xi Jinping this year, and also the first visit to China’s neighbors following the central conference on work related to neighboring countries.

Vietnam, Malaysia and Cambodia are important economic and trade partners of China. During the visit, the Ministry of Commerce signed a number of economic and trade cooperation outcome documents with these countries. In terms of cooperation between China and Malaysia under the "Two Countries, Two Parks" program, we will enhance trade facilitation through strategic alignment, coordinated development planning, policy and institutional innovation, and international industrial cooperation. We believe these efforts will help with the upgrading of the "Two Countries, Two Parks" program. In terms of production and supply chain cooperation between China and Vietnam, and China and Cambodia, we encourage enterprises to strengthen production and supply chain cooperation through trade, investment and technology cooperation in a wide range of areas, so as to build smooth, stable and resilient production and supply chains that can deepen trade and investment cooperation.

In the next step, we will work with neighboring countries to jointly oppose unilateralism and protectionism, further deepen bilateral economic and trade cooperation, and accelerate regional economic integration to inject strong impetus into our respective modernization processes. Thank you.

Yicai: China and Europe have agreed to immediately start negotiations on price undertakings for electric vehicles and discussions on investment cooperation in the automotive industry. Could the Ministry of Commerce share information about the progress of the current negotiation?

He Yadong: On April 8, Minister Wang Wentao and European Commissioner for Trade and Economic Security Maroš Šefčovič held a video conference. After that, the technical teams from China and the EU have maintained close communication about price undertakings for electric vehicles and trade and investment cooperation, speeding up the progress of consultation. China is willing to work with the EU to properly handle economic and trade frictions through dialogue and consultation, deepen bilateral pragmatic cooperation, and inject more certainty and positive energy into the economies of China, the EU, and the world. Thank you.

Xinhua Finance: Recently, the Ministry of Commerce convened a meeting to promote the integration of domestic and foreign trade and launched the “Premium Exports Homebound” campaign. Some regions have already hosted related events. What are the highlights of these activities, and what further steps will the ministry take to support this initiative?  

He Yadong: "Premium Exports Homebound" is a flagship initiative by MOFCOM this year to advance the integration of domestic and foreign trade. It aims to stabilize foreign trade and boost domestic consumption by facilitating access to domestic markets for export-oriented enterprises. On April 13, we held the national launch ceremony in Hainan. Last week, events in Guangdong and Jiangsu concluded successfully. In Jiangsu, the MOFCOM-organized Premium Export Products Procurement Delegation conducted its first on-site purchasing session, attracting over 80 large-scale retailers, e-commerce platforms, and wholesale/retail enterprises. These activities have helped exporters secure new domestic sales channels while enabling buyers to source high-quality products. For example, a coffee cup showcased by one exporter became an instant best-selling item at the Jiangsu event. Upcoming events will be held in Fujian, Hubei, and Hunan, and we welcome media coverage of these activities.

Next, we will expand the scale of procurement delegations, organize specialized matchmaking events in major export and consumption hubs, and intensify support for exporters entering the domestic market. Our goal is to bring more premium export products into households across the country. Thank you.

China Securities Journal: We note that the second phase of the 137^th Canton Fair is currently underway in Guangzhou. Could you highlight its distinctive features and achievements?  

He Yadong: The second phase of the 137th Canton Fair, themed “Quality Home,” launched yesterday. It features 15 exhibition zones across three sectors: Household Items, Gifts & Decorations, and Building Materials & Furniture. The event boasts a diverse array of exhibits and has attracted a vast gathering of global businesses. Key highlights include:  

First, there’s a deep integration of comprehensiveness and specialization. The phase covers the entire “comprehensive home living” industrial chain while emphasizing sector-specific expertise. This dual approach facilitates industry exchanges, enhances procurement efficiency, and meets the “one-stop” purchasing needs of global buyers, further strengthening the event’s appeal.  

Second, there is strong atmosphere of innovation and greenness. Over 2,400 domestic and international exhibitors hold titles such as national high-tech enterprises, specialized and sophisticated SMEs, and champions in certain manufacturing industries -- an increase of 100 businesses compared to the previous session. The increasingly innovative and environmentally sustainable exhibits are gaining significant international recognition.

Third, there’s a growing participation for overseas buyers. By midday on April 24, a total of 195,851 overseas buyers from 218 countries and regions have attended the grand event. The bustling atmosphere and active negotiations at the Canton Fair reflect global confidence in China’s economic prospects, giving a boost to China’s foreign trade. Thank you.

The Red Star News: Recently, many e-commerce platforms have introduced substantial measures to help foreign trade enterprises expand into domestic markets. What progress has been made, and what results have been achieved?  

He Yadong: As previously mentioned regarding domestic market expansion by exporting enterprises, under the framework of “Premium Exports Homebound” initiative, we are leveraging the channel strengths of e-commerce and the scale advantages of the world’s largest online retail market to fully support this effort.  

Fifteen major e-commerce platforms have actively responded by implementing a comprehensive suite of eight measures, including direct order procurement and supply-demand matchmaking. For instance, platforms have intensified direct procurement efforts, with some securing contracts exceeding RMB 10 million and rolling out follow-up bulk-purchase plans. They have introduced green channel access, offering zero-cost entry support and expedited services for exporters, while enhancing online traffic support through trending rankings and subsidies to amplify brand visibility. Industrial e-commerce platforms have conducted over 200 specialized matchmaking sessions this year to link export-oriented enterprises with domestic buyers. As of April 23, nine platforms have opened green channels, and six platforms have established dedicated domestic sales zones, and facilitated connections with over 6,000 export-oriented enterprises, of which over 600 have successfully got onboard.  

Commerce authorities at all levels have streamlined domestic sales pathways through “direct access” mechanisms, collaborating with industry associations and platforms to organize procurement tours and targeted investment promotions. Exporters have acknowledged that concrete government and platform measures have accelerated their integration into domestic e-commerce supply chains, bolstering their confidence in exploring the home market.

Moving forward, we will foster synergy among platforms, industries, and local governments to stabilize foreign trade and expand domestic consumption through e-commerce. Thank you.

Nikkei: The U.S. Treasury Secretary mentioned that the trade war with China is not ‘sustainable’, and President Trump also indicated that he would not take a tough stance against China. Will China engage in trade negotiations with the U.S. like Japan and other countries?

He Yadong: China has noted recent reports by foreign media. The Ministry of Commerce is the competent authority for economic and trade relations with foreign countries. I would like to emphasize that there have not been any economic and trade negotiations between China and the U.S. Any claims of progress in economic and trade talks between the two countries are groundless and lack factual basis.

China’s stance remains consistent as it maintains an open attitude toward consultation and dialogue. However, any form of consultations and negotiations must be conducted in an equal manner on the basis of mutual respect. We do not provoke trouble, nor are we intimidated by it. Pressuring and threatening are not the right way to deal with China. The trade war was unilaterally and wantonly initiated by the U.S. China urges the U.S. to correct its erroneous practices, show sincerity if it wants to hold talks, and return to the right track of equal-footed dialogue and consultation so as to jointly promote the stable, healthy and sustainable development of China-U.S. economic and trade cooperation. Thank you.

CNBC: On Tuesday, U.S. President Donald Trump said that the tariffs on goods imported from China were very high and they would come down substantially. On the same day, U.S. Treasury Secretary Scott Bessent also stated that the China-U.S. tariff war would soon de-escalate. What comment does the spokesperson have on this?

He Yadong: We have noted the relevant statements made by the U.S. side. The abusive imposition of additional tariffs by the U.S. violates basic economic and market principles, and has not only failed to solve the domestic problems of the U.S. but has also severely undermined the international economic and trade order, and disrupted normal business operations and the daily consumption of the people. Such U.S. acts have incurred strong opposition from the international community and within the U.S. itself.

“Whoever tied the knot is responsible for untying it.” The unilateral tariff imposition measures were initiated by the U.S. If the U.S. side truly wants to solve the issue, it should face up to the rational voices from the international community and from within the U.S., lift all unilateral tariffs on China, and find ways to address differences through dialogue based on equality. Thank you.