On 29th July, Wang Shouwen, Vice Minister of Commerce and Deputy China International Trade Representative, had a video discussion with U.S. Chamber of Commerce and several representatives from member enterprises to exchange ideas on China-US economic and trade relations, China’s greater opening-up, business environment and other issues of common concern. Myron Brilliant, Executive Vice President and Head of International Affairs at U.S. Chamber of Commerce, and representatives from over 10 member enterprises joined the discussion.
Wang stressed that during the past 40 years since China and the US established diplomatic relations, bilateral commercial relations have been developing rapidly with increasingly intertwined interests, bringing tangible benefits to people of the two countries. The two sides enjoy promising cooperation prospects. However, the relations also face grim challenges as some Americans have been stirring up a comprehensive strategic competition with China and repeatedly took wrong actions on issues related to Xinjiang, HongKong and Taiwan. Such practice undermined the foundations of bilateral dialogues and cooperation and is firmly opposed by China.
Wang also stated that the Chinese government will continue to expand opening-up with multiple favorable measures. To promote trade in goods, tariffs have been continuously and voluntarily reduced to 7.5% from 9.8% as promised in joining the WTO. In terms of trade in services, China recently released the Negative List of Cross-Border Trade in Services of Hainan Free Trade Port, a breakthrough of China’s management of trade in services. With respect to investment, China will continue to shorten the negative list for foreign investment access and open wider to the outside world. China will also actively strengthen IPR protection and create a market-oriented, law-based business environment up to international standard. Wang also explained China’s supportive policies on high-tech companies as requested and responded to some concrete questions from enterprises.
Myron Brilliant and representatives of member enterprises of the U.S. Chamber of Commerce stated that the US business community generally expects healthy, stable and mutually beneficial China-US commercial relations while opposing commercial decoupling. They look forward to strengthened dialogues and communication as well as deepened practical economic and trade cooperation between the two countries.
(All information published on this website is authentic in Chinese. English is provided for reference only.)