A Chinese official has warned that the trade offs between the country and the world economy will continue as the country continues to “develop” its economy.
The warning came during a speech to a group of Chinese economists, organised by the State Council Economic Research Department (CSED), and attended by China’s President Xi Jinping.
“I would not say it is a bad trade deal,” Xi said, adding that it was the result of “a long and complex process”.
“We will continue to progress with it.
There is no downside.”
China’s trade deficit with the world is now over $600bn (265bn euros) a year.
In recent years, the Chinese government has increased its trade surplus with the West, which it has described as the “world’s largest”, and is increasingly investing in the West’s infrastructure and technology.
China has also stepped up its own investment in Western infrastructure, including in infrastructure for nuclear reactors.
China’s president has also been actively courting Western investment, as part of a drive to bolster the country’s economy.
In May, the country announced a $10bn investment programme, the biggest single sum China has ever made in a single investment.
The government has also said it wants to double its foreign investment to $30bn a year by 2020.
But analysts say China’s investment policies have largely failed to pay off in the past.
China, the world’s second-largest economy, has struggled to rein in its growth in recent years as it struggles with a chronic shortage of cheap raw materials, and has been plagued by corruption scandals.
Critics have also accused the government of using cheap labour and poor wages to subsidise its economic development.
China is also a net importer of goods and services, according to the International Monetary Fund.