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China-US trade agreement implements open economy Qiu Tenghua: the country has already set policy points and will lose

2020-01-19T02:16:05.543Z


The Sino-US trade war lasted more than two years, and the two countries formally signed the first phase of the Sino-US trade agreement at the end of last week. Qiu Tenghua, director of the Bureau of Commerce and Economic Development, believes that the five areas for the implementation of the agreement are exactly the five major measures mentioned by President Xi Jinping in 2019, including the opening-up policies such as allowing foreign capital to enter and strengthening intellectual property protection. The signing of the agreement is "Implementation with the largest trading partners, will the point be lost?" However, the key point is to cancel the 15% to 25% tariffs so that the global and Sino-US economies can recover. He mentioned that in response to the Sino-U.S. Trade war, he has discussed the difficulties and contingency measures brought about by the trade war with the business community since 2018. The policies introduced now have been brewing for a long time, but he emphasized that the social environment in the second half of last year caused enterprises to face The problem is even more pressing, and the government will push more measures to help small and medium-sized enterprises pass the New Year.


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Written by: Chen Qianting

2020-01-19 10:02

Last updated: 2020-01-19 10:03

The Sino-US trade war lasted more than two years, and the two countries formally signed the first phase of the Sino-US trade agreement at the end of last week.

Qiu Tenghua, director of the Bureau of Commerce and Economic Development, believes that the five areas for the implementation of the agreement are exactly the five major measures mentioned by President Xi Jinping in 2019, including the opening-up policies such as allowing foreign capital to enter and strengthening intellectual property protection. The signing of the agreement is "Implementation with the largest trading partners, will the point be lost?" However, the key point is to cancel the 15% to 25% tariffs so that the global and Sino-US economies can recover.

He mentioned that in response to the Sino-U.S. Trade war, he has discussed the difficulties and contingency measures brought about by the trade war with the business community since 2018. The policies introduced now have been brewing for a long time, but he emphasized that the social environment in the second half of last year caused enterprises to face The problem is even more pressing, and the government will push more measures to help small and medium-sized enterprises pass the New Year.

Secretary for Commerce and Economic Development Qiu Tenghua (Photo / Photo by Yu Junliang)

Qiu Tenghua accepted today (19th) an interview with a Taiwanese program that the five areas mentioned in the Sino-US trade agreement include the five major measures announced by President Xi Jinping last year, namely, expanding foreign investment, strengthening protection of intellectual property rights, and increasing imports of goods and services. , More effective implementation of international macroeconomic policies, and deteriorating opening-up policies, he described the signing of the agreement as "implementation with the largest trading partners, will the point be lost?" However, after signing the agreement, the key is to revoke 15% to 25% % Tariff, because the tariff has not been withdrawn, there are still additional costs, and the withdrawal of tariffs will allow the global and Sino-US economies to recover.

Qiu Tenghua pointed out that Hong Kong and the international community are reviewing whether the terms in the trade agreement are in line with international economic and trade rules and principles. He believes that from the dispute to the signing of an agreement, the two sides have established a foundation of trust. For Hong Kong, "the more rules, the more it is good".

Government to help SMEs survive winter

The Sino-U.S. Trade war has lasted for more than two years. Qiu Tenghua said that since 2018, he has talked with the business community about how to respond, and the policies currently introduced are long-established. He revealed that there were also worries about bankruptcy at that time. Enterprises were most concerned about business turnover, capital turnover and future prospects. In the first half of 2019, the economy was almost stagnant, but according to the data, the company smoothly transitioned to last year ’s “yearly closing”. "In 2019, the number of foreign-funded companies in Hong Kong reached a record high of 9,000, of which nearly half set up regional headquarters in Hong Kong.

Qiu Xu pointed out that the social environment in Hong Kong in the past half year has made the problems faced by enterprises more urgent. Therefore, the government has also introduced corresponding measures, including doubling the number of enterprises to apply for "BUD special funds" and "marketing funds" from tomorrow (20th). The cumulative funding ceiling and the first funding ratio, as well as the funding for local enterprises to participate in the TDC exhibition since February 1st, will increase business opportunities, and hope that policies will help SMEs to pass the upcoming year.

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Source: hk1

All news articles on 2020-01-19

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