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China stresses need to fight protectionism

(Xinhua)
Updated: 2009-09-16 01:36

China's Vice Minister of Commerce Chen Jian on Tuesday stressed the need to fight against protectionism under the current economic situation, saying that it is critical for building up the momentum of world economic recovery.

In a speech at the 2nd International Capital Conference (ICC) of Boao Forum of Asia (BFA) opened in London on Tuesday, Chen said that continuously and firmly fighting protectionism, promoting market liberalization and keeping smooth trade and investment are critical for building up the momentum of world economic recovery.

"In today's world, as all the economies are so deeply interdependent, no single country could remain immune from the crisis," he said. "For the same reason, no single country could achieve its own recovery by practicing protectionism."

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He said that success stories of Asian countries are attributable to their opening-up policies and active engagement in globalization. "History tell us that closer cooperation will bring the world opportunities to emerge from recession and restore prosperity."

Vice-minister Chen stressed that "only by upholding opening up and expanding investment and trade can we better serve the fundamental interests of all countries by improving their risk-resisting and long-term development capabilities."