China and US reach consensus on economic and trade issues
Print Edition
CHINA and the United States have issued a joint statement on economic and trade consultations, vowing not to launch a trade war against each other.
The Chinese and US delegations conducted constructive consultations on trade issues on Thursday and Friday in Washington, the statement said on Saturday.
The two sides agreed to take effective measures to substantially decrease the US trade deficit in goods with China.
China will significantly increase its purchase of US goods and service to meet the consumption needs of the Chinese people and propel the high-quality economic development of China, which also helps support the US economic development and employment, according to the statement.
The two nations agreed to meaningfully increase the export of US agricultural and energy products. The US side will send a delegation to China for further consultations, it said, without specifying timing.
The two sides talked about the expansion of trade on manufactured goods and service, and have reached consensuses to create favorable conditions to increase trade in those areas.
The statement said the two sides highly valued intellectual property protection and agreed to promote cooperation in this regard.
China will promote revision of related laws and regulations including the Patent Law, according to the statement.
The two sides also agreed to encourage the two-way investment, and committed to creating a business environment for fair competition.
The two countries agreed to maintain high-level contacts in this regard and actively seek to resolve their economic and trade concerns.
The Chinese delegation was led by Vice Premier Liu He, and the US officials included Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and Trade Representative Robert Lighthizer.
On Saturday, Liu said China and the US have reached consensuses on economic and trade issues. He said the two sides agreed not to launch a trade war and to stop slapping tariffs against each other, which are the most remarkable fruits of the consultations.
The fundamental reason behind the positive outcomes is “the needs of the two people and the whole world,” said Liu, also chief of the Chinese side of the China-US comprehensive economic dialogue.
The two sides will enhance their trade cooperation in such areas as energy, agriculture products, health care, high-tech products and finance, he said.
Such cooperation is a win-win choice as it can promote the high-quality development of the Chinese economy, meet the people’s needs, and contribute to the US effort to reduce its trade deficit, he added.
Meanwhile, the two countries will also strengthen their cooperation in mutual investment and intellectual property protection, Liu said, adding that it not only benefits the two nations, but also helps support the stability and prosperity of the global economy and trade.
He underlined that China, with a large middle-income population, will become the world’s largest market.
The Chinese market will be highly competitive, he said, adding that nations longing for the market have to improve the competitiveness of their products and services to attract the Chinese people.
China is ready to buy goods not only from the United States but also from around the world, Liu said.
The Chinese vice premier added that China welcomes all countries to attend the first China International Import Expo to be held in Shanghai in November.
Liu also said China will accelerate implementation of President Xi Jinping’s remarks at the Boao Forum for Asia Annual Conference 2018 in April, when the Chinese top leader proposed to further China’s efforts to facilitate the market access, build a more attractive investment environment, strengthen intellectual property protection and increase imports from other countries.
China learns from its past 40 years of reform and opening-up that the opening-up can promote reform and development, Liu said, adding that Beijing will stick to the approach in the future. It is natural for the two countries to reach consensuses this time, Liu said.
However, it should be noted that it takes time to resolve the structural problems in the bilateral economic and trade ties, he said.
The healthy development of China-US economic and trade relations is in line with the historical trend, Liu said, adding that the two countries should properly handle their differences through dialogue and treat them calmly in the future, he said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
