Chinese commerce minister urges U.S. to meet China halfway on trade ties

Chinese Minister of Commerce Wang Wentao met with a delegation led by Rajesh Subramaniam, chair of the Board of the U.S.-China Business Council (USCBC), in Beijing on Wednesday. The two sides exchanged views on China-U.S. economic and trade relations, as well as the development of U.S. companies in China.

Wang pointed out that the facts show that despite past challenges, China and the United States remain vital economic and trade partners.

"Decoupling" and "breaking supply chains" will not work, and equal dialogue and consultation are key to resolving differences, Wang stressed.

Wang said that under the guidance of the two heads of state, China and the U.S. have reached the Geneva consensus and the London framework, and the trade and economic teams of China and the US held trade talks in Stockholm over the past two days.

He expressed hope that the U.S. side will work together with China to maintain the stable, healthy and sustainable development of bilateral economic and trade ties.

Wang reiterated that opening up is China's fundamental national policy, and the country's door will only open wider. China's policy on utilizing foreign investment has not changed and will not change, he stressed.

Highlighting China's large consumer market, growth potential and innovative vitality, Wang welcomed enterprises from all countries, including U.S. firms, to invest in China and share development opportunities.

Subramaniam said the USCBC is pleased to see continued dialogue between the economic and trade teams of the two governments and welcomes the positive outcomes achieved.

He noted that China has sent a positive signal of its commitment to further reform and open up, which has helped boost market confidence.

Subramaniam affirmed that the USCBC and its member companies remain committed to long-term development in China and will do their utmost to play a constructive role in expanding China-U.S. economic and trade cooperation.