Trade spat perils put spotlight on need for effective strategies


Trade spat perils put spotlight on need for effective strategies

Short-term challenges from the escalating trade spat with the United States have reassured Chinese officials and experts of the need to support market-oriented reform and opening-up, with a particular focus on reducing debt and limiting government intervention.

That was the consensus reached by participants at a high-level forum on Sunday, during which policymakers and advisers from home and abroad gathered in Beijing.

They discussed global trade tensions and policy options that would ensure smooth growth of the Chinese economy.

Reforms should strengthen the market's decisive role in resource allocation, optimize State-owned enterprises and reduce or eliminate direct subsidies for some industries, said Yang Weimin, former deputy director of the Office of the Central Leading Group on Financial and Economic Affairs, a top-level economic policymaking body.

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