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Wen: China firmly opposes trade protectionism

(Xinhua)
Updated: 2009-09-10 18:47

DALIAN: China will continue to actively take part in the economy globalization process and resolutely oppose trade and investment protectionism, Chinese Premier Wen Jiabao said here Thursday.

China's Premier Wen Jiabao delivers a speech at the opening ceremony of the World Economic Forum meeting, in China's port city Dalian, September 10, 2009. [Agencies]

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Protectionism would slow down recovery of global economy and bring harm to enterprises and people around the world, Wen said when delivering a speech at the opening ceremony of the 2009 Summer Davos, also known as the Annual Meeting of the New Champions 2009 held in north China's port city Dalian.

"With the shadow of the global financial crisis still lingering, the international community must not waver in its resolve or slacken its efforts against protectionism," Wen said, adding that we must guard against and redress all forms of covert protectionist activities.

"As an active participant in economic globalization, China will never engage in trade or investment protectionism. We mean what we say and we honor our word with real action," he said, adding that China had sent several trade and investment promotion missions to Europe and the United States to purchase goods and boost investment cooperation.

Countries should increase consensus, strengthen coordination of macro-economic policies, pursue responsible fiscal and monetary policies that fit their national conditions and maintain the consistency of the macro-economic policies, Wen said.

"We should accelerate reform of the international financial system, intensify international cooperation on financial regulation, establish an effective early-warning and crisis management system, increase transparency of financial markets and raise the capacity to fend off and respond to potential risks so as to bolster financial stability and sustainable economic growth," he said.

China stands firm on intellectual property rights (IPR) protection and will continue to implement the country's IPR strategy, take strong measures to foster a legal, market and cultural environment for IPR protection, see to it that all fruits of innovation be respected and rewarded and translate inventions and discoveries of all kinds into real forces of production, Wen added.