Journal : Ministry of Foreign Affairs Press Briefing Date : Author : NA Page No. : NA

Extracts from Foreign Ministry Spokesperson’s Regular Press Conference

Bloomberg: Japan, India and Australia’s trade ministers have met to officially launch the Supply Chain Resilience Initiative, following reports that the three nations are working together to counter China’s dominance on trade. Does the foreign ministry have any comment on this initiative?

Zhao Lijian: We have taken note of the situation. The formation and development of global industrial and supply chains are determined by market forces and companies choices. The relationship between the upstream and downstream of the industrial chain is that of division of labor for win-win cooperation, rather than charity or alms-giving from one side to the other. Artificial industrial “transfer” is an unrealistic approach that goes against the economic laws and can neither solve domestic problems nor do anything good to the stability of the global industrial and supply chains, or to the stable recovery of the world economy. Amid the COVID-19 epidemic, we hope that parties concerned will cherish the hard-won outcomes of international cooperation in the fight against the epidemic, respect the laws of market economy and free trade rules, and act in ways conducive to enhancing mutual trust and cooperation, so as to jointly ensure the global industrial and supply chains stable and unimpeded with a vision of strong, sustainable, balanced and inclusive growth of the world economy.

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