Officials from the Ministry of Finance Respond to Media Inquiries on US Treasury Secretary Yellen's Visit to China | Two Countries | Ministry of Finance
The relevant officials of the Ministry of Finance answered media inquiries regarding the specific situation of US Treasury Secretary Yellen's visit to China as follows:
The world needs a generally stable relationship between China and the United States, and whether the two countries can coexist correctly is related to the future and destiny of humanity.Both sides agreed to engage in dialogue and coordination between the financial and economic teams of the two countries on macroeconomic policies, economic and trade issues. In order to implement the consensus of the Bali meeting between the two heads of state, and as agreed by both China and the United States, US Treasury Secretary Yellen will visit China from July 6th to 9th. During Yellen's visit to China, Li Qiang, a member of the Standing Committee of the Political Bureau of the Communist Party of China and Premier of the State Council, met on July 7th to exchange views on major issues such as China US relations and China US economic relations. On July 8th, He Lifeng, member of the Politburo of the Communist Party of China Central Committee, Vice Premier of the State Council, and China US economic and trade leader, held a meeting to exchange in-depth views on the economic and financial situation of the two countries and the world, cooperation in addressing common global challenges, and economic issues of mutual concern. The relevant meetings and talks are frank, pragmatic, in-depth, and constructive.
China pointed out in the meeting that a healthy and stable relationship between China and the United States is not only beneficial to both countries, but also to world peace and development. Mutual respect, peaceful coexistence, and win-win cooperation should be the fundamental and correct way for countries to coexist with each other. I hope that the United States will uphold a rational and pragmatic attitude, work together with China to turn the consensus of the Bali meeting between the two heads of state into practical actions, and promote the early return of China US relations to the right track. In terms of shared economic and global challenges between the two countries:
One is to illustrate the essence of mutually beneficial and win-win economic relations between China and the United States. As the world's largest developing and developed country, the economic relationship between China and the United States has gone through decades of development, with complementary economic structures and close economic and trade exchanges, forming huge common interests. Both countries benefit from each other's development, and the essence of the economic relationship between the two countries is mutual benefit and win-win. China believes that China's development is an opportunity rather than a challenge for the United States, a gain rather than a risk. Strengthening cooperation between China and the United States is a practical need and the right choice for both countries. The US side stated that it does not seek to decouple from China, as decoupling from the world's top two economies would be catastrophic for both countries and would also bring instability to the world. The US has no intention of forcing countries to take sides and cause fragmentation of the world economy.
The second is to demand that the US take practical actions to respond to China's significant concerns about the US economic sanctions and suppression. In recent years, the United States has introduced a series of economic sanctions and suppression measures against China, which have damaged the legitimate rights and interests of Chinese market entities and undermined the public opinion foundation of bilateral relations. During the meeting and talks, China reiterated its concerns regarding the cancellation of additional tariffs on China, cessation of suppression of Chinese enterprises, fair treatment of two-way investment between the two countries, relaxation of export controls on China, and lifting of bans on products related to Xinjiang. China hopes that the United States will take practical action to respond to China's major concerns in the economic relations between the two countries.
The third is to clarify China's position on healthy economic competition. The Chinese side believes that to achieve a healthy economic relationship between China and the United States, it is necessary to fully respect the legitimate development rights and interests of all parties, and engage in healthy competition in accordance with market economy principles and WTO rules. Since the reform and opening up, China has established and continuously improved its socialist market economy system, and is currently striving to promote a higher level of opening up to the outside world. China has always been committed to accelerating the creation of a market-oriented, legal, and internationalized first-class business environment. Protect property rights and intellectual property rights in accordance with the law, safeguard the legitimate rights and interests of enterprises, and treat all types of market entities, including foreign-funded enterprises, equally and fairly. China has achieved rapid economic development and has also made positive contributions to global economic growth. Differences should not be the reason for creating barriers, but rather the driving force for strengthening communication and exchange. China and the United States should seek consensus on important issues in the bilateral economic field through frank exchanges, injecting stability and positive energy into their economic relations.
The fourth is to demonstrate China's positive willingness to cooperate in addressing global challenges. The current global challenges of macroeconomic and financial stability, climate change, and debt issues are becoming increasingly severe. Effective response to global challenges cannot be achieved without coordinated cooperation between China and the United States, which is in line with the common interests of both countries and conducive to enhancing the well-being of people around the world.Faced with increasingly severe global challenges, we hope that developed countries, including the United States, will take on their due responsibilities, understand and cater to the concerns of developing countries, and make every effort to promote global common development.
During Minister Yellen's visit, both sides agreed to maintain high-level exchanges and communication at all levels in the economic field between China and the United States in accordance with the important consensus of the Bali meeting between the two heads of state.