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The main economic officials of China said that the country could do without American farm and energy while they were performing to achieve a 5% GDP growth target for the trade war with the United States.
Zhao Chenxin, vice-president of the National Development and Reform Commission, the Chinese state planner, said national farm and energy production, as well as imports from non-American sources, would be more than sufficient to meet demand.
“Even if we do not buy food and oil seeds in the United States, this will not have much impact on cereal supply in our country,” said Zhao.
His comments occurred at a press conference on Monday where the best Chinese decision -makers sought to reassure the public on the state of the economy and undertook to intensify support to avoid the effects of the commercial war of Donald Trump.
Zhao said that American agricultural imports were “mainly intended for food grains, which were very substitutable” and noted that there would be a limited impact on energy supplies from China if companies stopped importing American, natural gas and coal.
The loss of the Chinese market would be a substantial success for American farmers, who have sent around $ 33 billion in agricultural products to the country in 2023. The United States also sent around $ 15 billion in oil, gas and coal in China.
Brazil and Argentina are among those that should send more to China. The share of food imports in the United States collapsed at 13.5% in 2023, from 20.7% in 2016, while Brazil went from 17.2% to 25.2% during the same period.
Despite an increase in desire in the Trump administration for talks with Beijing, China has shown little appetite for negotiations and has repeatedly afflicted discussion of Washington as false.
China last week said the United States should cancel its prices as a starting point for commercial negotiations.
With bilateral American-Chinese bilateral prices at more than 100%, trade between the two economic superpowers began to fall, which made Chinese factories start workers on leave.
Zhao has always argued that Beijing was “fully confident” to achieve the country's growth target of the country for the year, even if he admitted that “external shocks increased”.
The Chinese trade minister Sheng Qiuping also said that exports had continued to grow in April, even after the start of the trade war.
Political decision -makers said they would accelerate the introduction of measures to stabilize employment and the economy. Officials have promised to intensify funding and credit support for exporters and repeated commitments to help Chinese manufacturers sell more goods at home and find new markets abroad.
Zou Lan, a sub-government of the Populaire Populaire de China, said that the central bank would release more money for banks and reduced interest rates at an appropriate time, while producing the renminbi exchange rate.
A senior civil servant of the Chinese Human Resources Ministry said that new working policies included calls for public enterprises to hire more recent university graduates and additional funds to subscribe to hiring and employment subsidies.
The country's urban unemployment rate was 5.2% in March, while the unemployment rate of young people was considerably higher at 16.5%.
“Chinese decision -makers are in increased rescue mode,” Louise Loo said at Oxford Economics. “Although there were large insurances to stimulate household expenditure and support companies affected by prices, employment stabilization seemed to have priority.”
