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Official: no protectionism in China's economic stimulus plans
2009/02/27

 

    There were no protectionist measures in China's stimulus plans for 10 key industries, Liu Tienan, vice minister of the National Development and Reform Commission (NDRC), told reporters here Friday.

    "We are against trade protectionism and there are no protectionist measures in our economic stimulus plans," Liu said.

    Liu cautioned against the rise of protectionism in various forms as the world strove to address the impact of the financial crisis and maintain economic growth.

    "Protectionism may have some effects in the short term, but it is a short-sighted option," he said.

    Free market competition was necessary, according to Liu, as it would force enterprises to improve their competitiveness and speedup structure adjustment.

    The country needed to stick to the opening-up policy to boost the development of the 10 key industries, he said, "we need to introduce technology and management."

    In responding to a reporter's question about export tax rebate increases in the stimulus plans, NDRC official Chen Bin said China has cut tax rebates for some exports by a large margin during the past years. The adjustment in the stimulus plans "is necessary and in line with the international convention."

    Starting last month, China unveiled stimulus packages for 10 sectors -- automobile, steel, shipbuilding, textiles, machinery, electronics and information technology, light industry, petrochemicals, nonferrous metals and logistics.

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