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"Buy China" Not an Option

China will not subscribe to protectionism policy like "Buy China" to weather the current economic storm, said one senior Chinese official on Monday.

Deputy Commerce Minister Jiang Zengwei stressed that regardless of the origin of products, China would treat domestic and foreign goods equally as long as there was demand in the country.

Jiang added although China could fulfill over 80% of its domestic demand through self-produce goods, but certain sectors – especially industrial raw material, agricultural products and luxury goods – needed to be complemented by imported ones.

He cited examples of substantial import of wheat and soy bean from the United States, Canada and Australia.

He added that all countries should actively develop its international trade to materialize mass distribution of goods, to cultivate their respective economic strength and uniqueness, and to supplement each other.

"At the end of the day, competitions between countries always fall back on two main factors – the quality and pricing of goods.

"There is no reason to invoke protectionist policy under the current circumstances. I believe China will not implement "Buy China" policy," Jiang said at a press conference held in Beijing to publicize the government's moves to spur domestic consumptions.

He was responding to a question from the media on whether or not China would consider a similar move like "Buy America", a clause contained in the latest 800 billion plus US dollar economic recovery package currently under debate in the US congress.

The controversial clause – which seeks to ensure that only US iron, steel and manufactured goods are used in projects funded by the bill – had drawn widespread criticisms from the European Union and Canada.

While its European trading partners had threatened to bring the matter up with the World Trade Organization, some US republicans had also expressed concern of drawing retaliation from other countries like China and India.

Last week, US President Obama had told the media that the country could not "send a protectionist message" and that White House officials had reportedly asked the Senate to water down the "Buy America" provisions in the stimulus bill, which might be passed within this week.

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