China is well-prepared to deal with any negative effect from its trade spat with the United States, and hopes the U.S. will not underestimate China’s resolve to fight back, the Chinese commerce ministry said on Thursday.
The U.S. would be making a miscalculation if it is determined to contain China’s rise, Gao Feng, spokesman at the Ministry of Commerce, said at a regular media briefing in Beijing.
China’s tariff hike on U.S. imports will not have a big impact overall on Chinese industries, Gao added.
Separately, China’s foreign exchange regulator said on Thursday that the impact of Sino-U.S. trade frictions on China’s cross border capital flows can be controlled.
China will continue with plans to open its capital markets, including the stock and bond markets, spokeswoman Wang Chunying told reporters in a regular briefing, adding that the nation’s forex polices will support the further opening of China’s economy.