China has assured its Asia-Pacific neighbors that it is striving to be a good trading partner. The comments by Vice Prime Minister Wu Yi Monday came as Beijing tries to resolve trade frictions with its major Western trading partners.
China's Vice Prime Minister Wu Yi told Asia-Pacific business leaders meeting in Hong Kong Monday that her country is ready to work with its neighbors to expand the region's economic prosperity.
Ms. Wu said "China always sticks to the diplomatic policy of befriending, comforting and enriching its neighboring countries. We are willing to team up with all countries in Asia Pacific to intensify dialogue and exchange with various levels, resolve differences through consultation, to accelerate regional economic integration."
China's rapid economic growth has worried some of its neighbors. They fear that China will corner much of the foreign investment coming to the region and soak up the world's energy and mineral resources.
Ms. Wu says China will invest more in the region and it is working to meet its energy needs on its own.
Ms. Wu's comments come amid frictions between China and its major trading partners over a recent surge in Chinese textile exports. The United States and the European Union say the increase - resulting from the global elimination of textile quotas - threatens jobs in their domestic textile industries.
The vice prime minister says trade frictions are natural but says they should be resolved through dialogue. She slammed the United States for imposing quotas on several categories of textile products. Beijing says that violates free trade rules under the World Trade Organization.
"We strongly call on relevant parties to pay respect to the WTO rules and properly handle the issue of textile trade through equal dialogue and consultation as well as concerted effort with us. We are resolutely opposed to easily applying restrictions and sanctions let alone politicizing the economic and trade issues," said Ms. Wu.
In talks Friday, Beijing and the European Union agreed to temporarily limit the flow of Chinese textiles to Europe. Chinese exports in 10 textile categories will be allowed to increase by 12.5 over the next two years.
