China: "Artificial Market Disruption Acts Are the Greatest Risk" in IPEF Agreement

Remarks by Mao Ning, Spokesperson of the Chinese Ministry of Foreign Affairs, on the 29th

China has expressed caution regarding the 'Indo-Pacific Economic Framework' (IPEF) supply chain agreement.

Mao Ning, spokesperson for the Chinese Ministry of Foreign Affairs, said at a briefing on the 29th when asked about the IPEF supply chain agreement, "The formation and development of global industrial and supply chains are the results of market rules and corporate choices."

Mao Ning, Spokesperson of the Chinese Ministry of Foreign Affairs.
Photo by Yonhap News

However, Spokesperson Mao asserted, "Artificially disrupting the market politicizes normal economic and trade activities and creates artificial obstacles to industrial cooperation such as in semiconductors, which is the greatest risk affecting supply chain stability."

South Korea, the United States, and 12 other IPEF participating countries announced the conclusion of the supply chain agreement in a joint press statement after the IPEF ministerial meeting held in Detroit, USA, on the 27th (local time), according to the Ministry of Trade, Industry and Energy and the U.S. Department of Commerce.

Regarding the decision by the United States and Japan to strengthen cooperation in the advanced semiconductor sector, Spokesperson Mao responded, "We have consistently believed that cooperation between countries should not be aimed at third parties," adding, "We also oppose the formation of small groups and discriminatory and exclusive cooperation."

He continued, "We believe that the interests of other countries should not be harmed to protect hegemony or self-interest," and said, "China is closely monitoring related developments and will resolutely safeguard its own interests."