China Won't Make Big Concessions on Trade Deal, Ex-Minister Says

China won’t make big concessions to the U.S. in order to seal a trade deal, former finance minister Lou Jiwei said in Beijing on Wednesday, calling some U.S. demands for change "unreasonable."

“China’s concessions probably won’t be very big because a lot of their demands are what we already plan to reform,” Lou, who was finance minister until 2016 and now runs the social security fund, said in an interview on the sidelines of the National People’s Congress. Some U.S. demands are “just nitpicking," he said.