The United States could pose significant challenges to China according to President-elect Donald Trump's tariff approach, but the country will never yield to external pressure and will only transform such pressure into a driving force for its development, said Zhu Guangyao, former vice minister of finance of China on Saturday.
In an interview with the China Media Group (CMG) in Beijing, Zhu said that the United States consistently exerts pressure on other countries to advance its own interests. He shared his impression of Jamieson Greer, who was selected to be the next U.S. trade representative by Trump. Zhu met with Greer when he served as chief of staff to former U.S. Trade Representative Robert Lighthizer.
"He was young at the time and quite aggressive. As a lawyer, particularly in the field of international trade, he possesses notable expertise. However, based on his statements regarding economic and trade relations with China in the U.S. Congress this May, I believe some of his points were less professional and more aligned with American political correctness. This includes his proposal to revoke China's Permanent Normal Trade Relations, a move that has also been opposed by many American businesses. China is well aware of such tactics and recognizes that the United States will continue to take all necessary measures to serve its own interests and apply extreme pressure when needed," Zhu said.
Zhu said facing challenges and suppression from the United States, China will unswervingly protect its national sovereignty, security, and development interests.
"China's position is clear: it will unswervingly protect its national sovereignty, security, and development interests. Furthermore, China has never yielded to external pressure throughout its history; instead, such pressure has become a driving force—propelling our development. According to the latest data, China's exports of integrated circuits surpassed one trillion yuan (approximately 137 billion U.S. dollars) in November, a full month before the close of 2024. In comparison, in 2018, exports were less than 500 billion yuan (about 68.5 billion U.S. dollars), demonstrating a doubling of growth," he said.
"China-U.S. relations will undoubtedly face certain challenges. The United Sates views us as its biggest competitor and will make every effort to suppress us. However, I believe that such suppression will ultimately prove counterproductive," said Zhu.
External pressure never defeats China, only drives its faster growth: former vice minister of finance
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
