China Will Not Launch 'Buy Chinese' Plan
Adjust font size:
China will not launch a "Buy Chinese" initiative, which could discriminate against imports, to stimulate its economy, a top Chinese government official said on Monday at a press conference.
"A product's competitiveness in the marketplace should be based entirely on quality and price (and not on country of origin)," said Jiang Zengwei, vice minister of the Ministry of Commerce.
"Although 80 percent of China's market demand is met by domestic production, China still needs to import a wide variety of products, such as industrial raw materials, luxury goods and agricultural produce," Jiang said, adding that China's imports are growing.
US President Barack Obama came under criticisms of trade protectionism after he raised a "Buy American" initiative as part of his economic stimulus package.
(Xinhua News Agency February 9, 2009)