
China is reportedly mulling strategies to deal with any potential trade disputes that may arise with the US after free trade-bashing President-elect Donald Trump takes over the White House on January 20.
In the event that Trump takes punitive measures against Chinese companies and goods, China is likely to respond with intensified scrutiny over US companies operating in the Chinese market, Bloomberg reported on Friday, citing unnamed sources.
China might target well-known US firms for higher tax or antitrust investigations, launch anti-dumping probes into US products, and cut back government purchases of US goods, according to Bloomberg.
There has been no official confirmation of such claims from the Chinese government so far, and they are in contrast to the Chinese government's recent policies and statements on further opening up the domestic market to foreign capital.
Wang Shouwen, vice minister of the Ministry of Commerce, said on Friday that China will not allow institutions and local governments to increase restrictions on foreign investment.
China will better protect the intellectual property rights of foreign investors while ensuring their fair participation in bids for government procurements, Wang said, according to news portal fx168.com.
Huang Yiping, a renowned Chinese economist, also suggested on Friday that, given Trump's tough stance on China and his protectionist trade policy rhetoric, China should consider the potential fallout if Trump imposes higher tariffs on Chinese goods.
If Trump targets Chinese goods for higher tariffs, it would certainly have a negative impact on trade, but "it is still too early to tell if Trump will deliver on his campaign promises," Huang, a member of the monetary policy committee of China's central bank and a professor at Peking University, said during an event in New York, according to ifeng.com.
Huang further warned that Trump's statements and promises during the campaign trial might not become reality, and even if Trump designates China as a "currency manipulator," the effect would still depend on other "substantial" measures, because simply putting such a tag on China will not have direct consequences.
Fire brigade in Shanghai holds group wedding
Tourists enjoy ice sculptures in Datan Town, north China
Sunset scenery of Dayan Pagoda in Xi'an
Tourists have fun at scenic spot in Nanlong Town, NW China
Harbin attracts tourists by making best use of ice in winter
In pics: FIS Alpine Ski Women's World Cup Slalom
Black-necked cranes rest at reservoir in Lhunzhub County, Lhasa
China's FAST telescope will be available to foreign scientists in April
"She power" plays indispensable role in poverty alleviation
Top 10 world news events of People's Daily in 2020
Top 10 China news events of People's Daily in 2020
Top 10 media buzzwords of 2020
Year-ender:10 major tourism stories of 2020
No interference in Venezuelan issues
Biz prepares for trade spat
Broadcasting Continent
Australia wins Chinese CEOs as US loses