China makes Russian energy pledge

Must read

Olive Garden manager fired after demanding staff ‘prove’ their pets have died

One Olive Garden manager’s extreme approach to employee time-off has backfired spectacularly.  The unnamed individual emailed a rant to employees at...

Elon Musk Loses Title of World’s Richest Person After Buying Twitter

Could it be that there are some things more important than money? For Elon Musk, it is appearing...

Washington Post: Shark Week is Racist and Overrepresents Men Named Mike

The Washington Post somehow managed to come up with an article that the Babylon Bee has to be...

Public Libraries Allow Drag Queen Story Time But Not Kirk Cameron’s Book

I remember growing up and hearing kids excitedly talk about new books they had just finished and taking...

China is not planning to end its policy of open trade, and aims to continue purchasing goods from across the world, including Russian oil and gas, TASS reports on Tuesday citing China’s Vice Commerce Minister Wang Shouwen.

“You want me to comment on several projected trends at once,” Wang said, responding to a question from a Western journalist about China’s plans to buy energy from Russia and to sell its own produce to the EU and the US.

“As for China, we will carry the banner of free trade high and will firmly adhere to the policy of openness,” the top official said, adding that Beijing “welcomes supplies of goods and services from other countries.”

According to data from the General Administration of Customs, China’s spending on Russian energy reached a record high of $8.3 billion in August, with a year-on-year increase of 68%.

Wang said that Beijing is planning to provide even more favorable opportunities for foreign companies intending to enter the Chinese market. 

He highlighted the latest forecast by the World Trade Organization that projects global GDP to decline by 5% in the long term in the event of a split in the world economy.

“The negative impact of the decline will be more dramatic than the consequences of the financial crisis of 2008,” Wang warned, adding that foreign trade should be an important stimulus to economic growth under the current international circumstances.

“I believe that we must abandon protectionist measures in trade and investment. Barriers  in those spheres need to be reduced,” he added.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Olive Garden manager fired after demanding staff ‘prove’ their pets have died

One Olive Garden manager’s extreme approach to employee time-off has backfired spectacularly.  The unnamed individual emailed a rant to employees at...

Elon Musk Loses Title of World’s Richest Person After Buying Twitter

Could it be that there are some things more important than money? For Elon Musk, it is appearing...

Washington Post: Shark Week is Racist and Overrepresents Men Named Mike

The Washington Post somehow managed to come up with an article that the Babylon Bee has to be...

Public Libraries Allow Drag Queen Story Time But Not Kirk Cameron’s Book

I remember growing up and hearing kids excitedly talk about new books they had just finished and taking...

State Dept Paid $275K for Video Game to ‘Counter Disinformation’

By Adam Andrzejewski for RealClearPolicy The State Department spent $275,000 to develop a video game for people 15...