a socialist economy with Chinese characteristics … we are q

ite mixed, very dynamic and very open as well.”

Liu said that according to statistics, about 80 percent of Chinese employees were employed b

y private enterprises, and 80 percent of Chinese exports were done by private companies.

Asked how the US businesses operate in China with the risk of their intellectual property rights b

eing stolen, Liu said many American companies have been established in China and they’re very profitable.

“The great majority of them, I believe, plan to continue to invest i

n China and explore the Chinese market as well,” Liu said. “Now, US President Donald Tru

mp’s tariff makes it a little bit more difficult — makes the future a little bit uncertain.”

Liu said that there is consensus among Chinese people that no c

ountry or individual “can be stronger” and “develop itself” without intellectual prop

erty protection, and that isolated cases do not mean that America is stealing or Chinese people are stealing.

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