Minister Wang Wentao of Commerce met with the bipartisan delegation led by Senate Majority Leader Chuck Schumer in Beijing On October 9. The two sides had rational and pragmatic discussions on China-U.S. trade and economic relations and trade issues of mutual concerns.

Wang Wentao said that the trade and economic relations between China and the U.S. not only concern the two countries, but also have a global impact. The two economies are far more complementary than competitive. The nature of China-U.S. economic cooperation is mutually beneficial. One party’s development and progress can well become opportunities rather than challenges for the other. Cooperation is the only correct path for both countries. China does not shy away from competition, but competition ought to be based on international economic and trade rules and should be fair, unbiased and healthy. Wang expressed the hope that the US will accurately define security boundaries and avoid generalizing, politicizing and instrumentalizing security issues.

Wang Wentao pointed out that China is ready to work together with the U.S. to adhere to the principle of mutual respect, peaceful coexistence and win-win cooperation, foster an enabling business environment for Chinese and U.S. business communities and promote bilateral trade and investment. Wang raised concerns on such issues including US’ export controls, investment restrictions, sanctions on Chinese companies, restrictions on personnel exchanges, and unfair treatment of Chinese-invested companies in the U.S.

Schumer said that the bilateral economic and trade ties are of vital importance to both countries. The two political parties in the U.S. attach great importance to economic and trade relations with China, do not seek to decouple from China, and are willing to strengthen communication and exchange.

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