On January 12, 2023, Minister Wang Wentao met with USCBC President Craig Allen via video link. The two sides exchanged views on China-U.S. trade relations, China’s further opening-up and other topics.

Wang Wentao noted that the meeting between President Xi Jinping and President Biden in Bali, Indonesia in November 2022 paves the way and identifies the direction to navigate bilateral trade and economic relations. “MOFCOM is ready to work with U.S. authorities to implement the important consensus from the meeting of our heads of state in Bali. By adhering to the principle of mutual respect, peaceful coexistence and win-win cooperation, we should seek common ground while shelving differences and have rational, practical and professional communication to inject positive impetus into our bilateral relationship through cooperation.”

Wang Wentao pointed out that China and the U.S. share broad common interests and a wide scope for cooperation, and that China-U.S. trade and economic cooperation benefits the people of the two countries and is of great significance for global economic growth. Defining China-U.S. relations as “strategic competition”, the U.S. administration takes a series of trade restrictive measures and protectionist steps which undermine the businesses and people of the two countries. “We hope the U.S. could view correctly the opportunities offered by China’s development to the U.S. and the whole world, and work under the instructions of our heads of state to bring China-U.S. trade and economic relations back onto the normal track as soon as possible.”

Referring to the highlights of the 20th National Congress of the Communist Party of China, Wang Wentao said that China will remain steadfast in expanding opening-up and advance the rejuvenation of the Chinese nation on all fronts through a Chinese path to modernization. “Modernization of China’s more than 1.4 billion people will mean enormous opportunities for businesses around the world, including those from the U.S.. China is ready to listen to the opinions of foreign-invested enterprises, including U.S. businesses, on a regular basis to make its business environment more market-oriented, law-based and up to international standards.”

Allen said the meeting between the two heads of state in Bali has drawn wide attention from the international community. The two leaders’ candid, in-depth and constructive communication sends an uplifting signal to U.S. businesses. He hoped that the two sides might start with specific matters to strengthen communication, cooperation and mutual trust. The USCBC, which has long been committed to facilitating exchanges between Chinese and American businesses, is ready to continue its support for business cooperation to foster a favorable environment for China-U.S. practical cooperation.

(All information published on this website is authentic in Chinese. English is provided for reference only.)