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Yu Jianhua Attended the Seminar on Cooperation between Chinese and U.S. Enterprises

Seminar on Cooperation between Chinese and U.S. Enterprises, sponsored by China Chamber of Commerce for Import and Export of Machinery and Electronic Products and U.S. Chamber of Commerce, was held in Washington, capital of the U.S., on the afternoon of February 13. Yu, Jianhua, Assistant Minister of Commerce of China, attended and addressed the Seminar.

Mr. Yu pointed out that, since the establishment of diplomatic ties 30 years ago, going through trails and hardships, the bilateral relations have always moved forward. Chinese and U.S. economies are highly complementary, more common interests generated, and cooperation overweighing differences. The deepening trade and economic relations between the two countries is the foundation and drive for the bilateral relations. According to statistics by Chinese side, China-U.S trade rose to a record high of US$446.7 billion in 2011. U.S. exports to China amounted to US$122.2 billion, a 20 percent growth year-on-year. In the past six years, the growth of U.S. export to China is higher than that of its imports from China, and the bilateral trade is more balanced. In terms of investment, the two-way investment has increased rapidly. According to China’s statistics, the U.S. has invested US$67.6 billion in China, the largest source of foreign investment for China. Meanwhile, Chinese enterprises are more interested in investing in the U.S., with accumulated non-financial direct investment in the U.S. exceeding US$6 billion.

According to Mr. Yu, as the top two economies in the world, China and the U.S. still have huge potential in cooperation and can improve cooperation level. As trade and investment scale increased between China and the U.S., it is normal that some frictions and conflicts arose in the trade and economic cooperation. The two sides should, with the goodwill of cooperation and promoting development, address challenges in China and U.S. trade and economic relations through bilateral trade and economic dialogue mechanism, and at the same time, seek common interests and new highlights for trade and investment cooperation, so as to bring more jobs and benefits for the people of the two nations.

Mr. Yu pointed out that, the two sides should expand cooperation in the following ways: First, expand bilateral trade. On one hand, China will, in accordance with domestic demand, import more agricultural and industrial products from the U.S. On the other hand, the U.S. should relax export control against China and export more competitive products to China. In addition, the two sides should expand cooperation in services trade. Second, expand two-way investment. The two governments should strive to create a fair and sound investment for enterprises of the other side to enter their own market. We will continue to positively attract foreign investment, step up the opening-up of the market, and try to address U.S. concern on IPR protection, so as to provide convenience to U.S. enterprises in China. China also expects fair and rational treatment from the United States for its enterprises, and investment review policy to let down the imitative of Chinese enterprises to invest in the U.S. Third, explore new cooperation fields. Enterprises of the two sides should explore the feasibility of cooperation in the fields of clean energy, IT, new materials, and service sector. Fourthly, strengthen cooperation in infrastructure cooperation.

Signing ceremony for cooperation project was held in the Seminar. Total 200 representatives from enterprises, associations and governments attended the seminar.

 

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