Vice-Premier Liu He: China ready to safeguard national interests

The Section 301 investigation by the US hampers the interests of China and the international community, and the world's second-largest economy has prepared to safeguard its national interests and "is capable of achieving that", said Vice-Premier Liu He on Saturday morning.

Liu, also head of the General Office of the Central Leading Group for Financial and Economic Affairs, clarified China's stance when talking with US Secretary of Treasury Steven Mnuchin on the phone.

Liu, who leads the Chinese side in the China-US Comprehensive Economic Dialogue, said the move by the US violates international trade rules and harms the interests of China, the United States and the international community. Both countries should remain rational and make joint efforts to ensure stable China-US economic and trading ties, Liu added.

On Thursday, US President Donald Trump signed a memorandum that could impose tariffs on up to $60 billion in imports from China and curb Chinese investment in the US.

The memorandum is based on an investigation, launched in August, under Section 301 of the Trade Act of 1974, into alleged Chinese intellectual property protection and technology transfer practices.