BEIJING - The Information Office of the State Council on Monday released a white paper that elaborated on China's position on the trade friction with the United States.

China-US economic and trade ties concern not only the well-being of the peoples of the two countries, but also world peace, prosperity and stability, said the white paper titled "The Facts and China's Position on China-US Trade Friction."

"Cooperation is the only correct option for China and the United States, and only a win-win approach will lead to a better future. China's position is clear, consistent and firm," the white paper said.

The following are China's position on the trade friction with the United States:

First, China is firmly committed to safeguarding its national dignity and core interests. "China does not want a trade war, but it is not afraid of one and will fight one if necessary."

"China has kept the door to negotiations open, but negotiations can only happen when there is mutual respect, equality, good faith, and credibility. Negotiations cannot be conducted under the threat of tariffs, or at the cost of China's rights to development."

Second, China is firmly committed to the sound development of China-US economic and trade relations.

"China would like to work with the US in the same direction, act in a spirit of mutual respect and win-win cooperation, focus on economic and trade ties, and properly manage economic and trade differences."

China is willing to resume negotiations with the US on a bilateral investment treaty, and launch bilateral free trade agreement negotiations when appropriate.

Third, China is firmly committed to the reform and improvement of the multilateral trading system.

China is firm in observing and upholding the World Trade Organization (WTO) rules, and supports an open, transparent, inclusive and non-discriminatory multilateral trading system, and necessary reform of the WTO, and firmly opposes unilateralism and protectionism.

China is working to enhance cooperation within the G20, the Asia-Pacific Economic Cooperation (APEC) and other multilateral frameworks, and make economic globalization more open, inclusive, balanced and beneficial to all.

Fourth, China is firmly committed to protecting property rights and intellectual property rights (IPRs).

China will keep improving its laws and regulations on IPR protection, enhance the quality and efficiency of IPR reviews. China protects the lawful IPRs of foreign businesses in strict accordance with the law, and takes stern measures to address all types of IPR infringement cases.

China will enhance its cooperation with all countries to protect IPRs, and hopes that governments of other countries will also step up their efforts to protect Chinese IPRs.

Fifth, China is firmly committed to protecting the lawful rights and interests of foreign businesses in China.

"China treats all businesses registered in China equally. China will always protect the lawful rights and interests of foreign investors and foreign-invested businesses, and take firm measures to address violations of their lawful rights and interests in accordance with the law."

Sixth, China is firmly committed to deepening reform and widening opening-up. "China will not reverse its course, but only deepen reform. China will not close its door to the world, but only open wider."

"The market will play a decisive role in the allocation of resources and the government will play a better role to encourage competition and oppose monopoly."

China will manage its own affairs well, develop an open economy at a higher level, and share development and prosperity with all countries that aspire to progress.

Seventh, China is firmly committed to mutually beneficial cooperation with other developed and developing countries.

China will work with the European Union (EU) to expedite the negotiations on the China-EU Investment Agreement, and will accelerate negotiations on the China-Japan-ROK Free Trade Area.

"China will promote deeper cooperation under the framework of the Belt and Road Initiative based on the principles of consultation, cooperation and benefit for all...and create new drivers for common development."

Eighth, China is firmly committed to building a community with a shared future for humanity.

China will continue to act as a responsible major country, and join every other country in building an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity.