Economics

China Mounts Fresh Defense of Globalization at Economic Forum

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A bicyclist rides past a highway overpass lit up at night in Shanghai, China, on Tuesday, Jan. 26, 2010. China's electricity usage in January may increase more than 30 percent, a record for year-on-year growth, the China Securities Journal reported today, citing an unidentified official at China State Grid Corp.
Photographer: Kevin Lee/Bloomberg

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By Bloomberg News

December 6, 2017 at 4:10 AM UTC

This article is for subscribers only.

China “unequivocally rejects protectionism” and will seek to safeguard the global trading system, a top Communist Party official told visiting executives at an economic development forum.

“History shows that no one will benefit from a protectionist approach,” Vice Premier Wang Yang told the Fortune Global Forum in the southern Chinese city of Guangzhou on Wednesday. Wang -- making his first big public speech since his promotion to the ruling party’s No. 4 position in October -- was addressing a gathering attended by Apple Inc.’s Tim Cook, Alibaba Group Holding Ltd.’s Jack Ma and Tencent Holdings Ltd.’s Pony Ma.