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Beijing won't have 'Buy China' clause
Tue, Feb 10, 2009
The Straits Times

By Sim Chi Yin, China Correspondent

BEIJING: - China will not impose a protectionist 'Buy China' clause in its economic stimulus package, a top Chinese official said yesterday, urging all countries to encourage international trade in the current crunch.

Without mentioning the 'Buy America' provision in the United States' stimulus package, Vice- Commerce Minister Jiang Zengwei said China would be even-handed towards foreign and domestic products - implying that Beijing's own four trillion yuan (S$873 billion) programme to pump-prime its economy will not discriminate against foreign businesses as some had feared.

Answering a question at a press conference, he said: 'We just need to boost consumption, whether it's through domestically made goods or foreign-made goods. Why should one be protectionist under the current circumstances?

 


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