China Foreign Minister Wang Yi pledged to have “justified and necessary response” to trade wars. He said that “A trade war has never been the right way to solve the problem, especially under globalization.” And, these conflicts “will only harm everyone and China will surely make a justified and necessary response.”
At the same time, released today, China’s trade surplus widened to USD 33.7b in January, or CNY 225b. Both were way better than expectation of USD -8.5b or CNY -71b deficit.
Exports rose 44.5% yoy. Imports rose 6.3% yoy.
