China commerce minister says US unilateralism, protectionism will hurt global economy

China's commerce minister told representatives of foreign firms on Monday that the United States' unilateralism and protectionism will impact both U.S. and China's interests and hurt the global economy.

China Commerce Minister Zhongshan told six multinational companies there was no winner in a trade war and that cooperation was the only correct choice, according to a statement posted on the commerce ministry's website on Tuesday.

China will accelerate its opening up and create a better business environment for companies, Zhong was quoted as saying.

Representatives of foreign firms that met with the commerce minister, which included Samsung Electronics Co, Toyota Motor Corp, HSBC Holdings and the Cohen Group, said they will continue to expand investment and cooperation in China, the commerce ministry said.