On September 15, Wang Shouwen, Vice Minister of Commerce and Deputy China International Trade Representative held an online meeting with members of the Board of Directors of the US-China Business Council (USCBC) in a discussion on the trade and economic relations between China and the US, China’s business environment and opening up, and US companies’ concerns related to trade and economic issues. Craig Allen, President of the USCBC, and heads of 15 American companies including Wal-Mart, General Motors, Cargill, Boeing, JPMorgan Chase, Air Products and Chemicals, Visa, United Family Healthcare, ExxonMobil, Dow Chemical, FedEx, ADM, Tyco Electronics, Thermo Fisher Scientific and Goldman Sachs attended the meeting.

Wang said that on August 24, President Xi Jinping pointed out at a symposium with experts in the economic and social fields that China should actively engage in cooperation with all countries, regions and enterprises that are willing to cooperate with China, including the states, cities and enterprises of the US. As a concrete action to put the spirit of the President’s important speech into practice, the online meeting between MOFCOM and the USCBC aimed to strengthen the communication with U.S. enterprises and listen to the suggestions of US businesses on the development of China-US trade and economic relations and China’s business environment.

Wang pointed out that, in the face of the difficulties caused by the COVID-19 pandemic and the complicated situation of China-US trade and economic relations, China, in good faith, earnestly implemented the Phase One trade deal between China and the US, and strived to create a good environment for cooperation between businesses of both sides. China firmly opposed the misguided practices of the US side on issues related to Taiwan and Xinjiang. The US should work together with China to jointly safeguard the overall bilateral relationship.

Wang said China would never waver in its determination to deepen reform and expand opening up. Since the beginning of this year, a series of concrete actions have been taken, including issuing important documents such as the Opinions on Constructing a More Perfect Market-Oriented Allocation System for Factors, shortening the negative list of foreign investment access, issuing the General Plan for the Construction of Hainan Free Trade Port, and speeding up the revision and implementation of the Catalogue of Industries for Encouraged Foreign Investment. China’s supply chain is stable and resilient. The trend of China’s positive economic growth for the long term remains unchanged. US companies are welcome to increase investment in China and share the dividends of China’s development.

The representatives of US companies at the meeting congratulated China on its tremendous achievements in combating the epidemic and taking the lead in resuming work and production, and appreciated China’s conscientious implementation of the Phase One trade deal. Optimistic about the growth potential of the Chinese market, these companies expressed willingness to continue to pursue growth in China. They hoped that the relationship between China and the United States would remain stable, thus creating favorable conditions for cooperation between enterprises of the two countries.

The US enterprise representatives also exchanged views with and made suggestions to MOFCOM on what part foreign-invested enterprises can play in fostering a new, dual-cycle development architecture with domestic and international development reinforcing each other, opening up of agriculture and service industries, air transportation, pharmaceutical cooperation and other issues.