There are no winners in the Sino-US trade war, and the protracted trade war will have great impacts on the economies of both China and the United States. With an ample room for manoeuvre in its economy, China does not scare the so-called trade threat, nor does it yield to trade bullying. To maintain an open and inclusive international trade system, China will continue to adhere to its original intention of trade protectionism. From the perspective of stabilizing macro-economy and employment, more effort should be made in aspects of enlarging imports, actively promoting the reform of domestic economic structure and international institutions as well as persistently strengthening human capital investment.