China complains about US tariffs via state-owned COSCO Shipping

Chinese ports operator COSCO Shipping said in a statement on Monday it opposed accusations by the United States and measures against China's shipbuilding and logistics industry.

"On April 18, 20:25, the Office of the United States Trade Representative (USTR) issued a discriminatory decision concerning the Section 301 investigation into China’s maritime logistics and shipbuilding industries," the state-owned conglomerate said. "We firmly oppose the accusations and the subsequent measures.

"The move is not conducive to fair competition and normal business operation order in the global shipping industry

"Ultimately, these actions risk undermining the security, resilience, and orderly operation of global industrial and supply chains."

As a state-owned venture, the statement in effect comes direct from the Chinese Government, making it quite misleading. China's state-owned companies also distort markets in many ways helpful to the country.

"As a responsible global provider of shipping and logistics services, we consistently uphold the principles of integrity, transparency, and compliance in international industry competition," the statement continued, rather ironically.

"We remain steadfast in our commitment to supporting global trade and delivering high-quality, reliable commercial shipping and logistics solutions to our clients worldwide."

(Reporting by Yukun Zhang and Ryan Woo; Editing by Kim Coghill)