China seeks US trade ties boost
Print Edition
CHINA is ready to strengthen exchanges with the United States in economic and trade fields, and carry out cooperation on the basis of mutual respect, equality and mutual benefit, China’s Minister of Commerce Wang Wentao said in a press briefing yesterday.
“I look forward to joint efforts with our US colleagues to follow the spirit of the phone call between the presidents of the two countries, stepping up communications, enhancing understanding, focusing on cooperation and managing differences to push bilateral economic and trade relations back on a cooperative track,” he said.
China has always held that the essence of Sino-US economic and trade relations is mutual benefit and win-win results, Wang stressed, adding that cooperation is the only correct choice as the interests of both sides are deeply integrated.
Despite the global trade slump due to the COVID-19 pandemic, trade between China and the United States has bucked the trend. Customs data showed bilateral trade of goods went up 8.8 percent in 2020 in yuan-denominated terms.
China is the largest trading partner of the United States, and the bilateral trade and investment cooperation between the two sides has made positive contributions to their respective economic recovery, Wang said.
“This fully demonstrates that economic and trade cooperation is a force that actively promotes the relationship between the two countries and brings tangible benefits to both sides,” he added.
Meanwhile, China is making more efforts in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a trade agreement that evolved from the Trans-Pacific Partnership and spans a number of economies in Asia-Pacific and Latin America, according to the ministry.
China is evaluating and analyzing the terms involved in the CPTPP. It has also done informal contacts with some of CPTPP’s 11 members, said Vice Commerce Minister Wang Shouwen.
The country plans to continue informal discussions with other members at the technical level to better understand the content of the agreement, Wang said.
Chinese President Xi Jinping said in November that China will consider joining the CPTPP, and in December, China reiterated its goal during the Central Economic Working Conference.
Also, China and the European Union completed the negotiation of a comprehensive bilateral investment agreement in December after seven years of talks. The China-EU agreement is a high-level, balanced, mutually beneficial and win-win agreement, which creates a lot of investment opportunities for companies from both sides. At present, the two sides are carrying out the review and translation of the text in order to sign the agreement as soon as possible.
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