The Ministry of Commerce responds to the agreement between China and the United States to establish new communication channels
At the invitation of Minister of Commerce Wang Wentao, US Secretary of Commerce Raymond visited China from August 27th to 30th, and both sides announced the establishment of a new communication channel between the Commerce Ministries of China and the United States. On August 31, spokesperson for the Ministry of Commerce, Shu Jueting, responded at a regular press conference that the establishment of the above-mentioned communication channels provides an important platform for the two countries' business departments to carry out institutionalized and normalized discussions on economic and trade issues of their respective concern. It is an important measure for both sides to stabilize Sino US economic and trade relations and strive to create a favorable environment for practical cooperation in the business community.
Shu Jueting said that recently, some foreign-funded enterprises, including American ones, have reported that they have been deeply involved in the Chinese market for decades and hope to expand their business in China. The biggest risk currently affecting investment and operations in China is the US China relationship, which greatly increases the instability of enterprise expectations. "We believe that the best way to 'reduce risks' is to return to the consensus of the Bali meeting between the two heads of state, so as to restore the healthy and stable development track of China US economic and trade relations, better play the role of the' ballast stone 'of bilateral economic and trade relations, stabilize enterprise expectations, and enhance the confidence of enterprises in conducting trade and investment cooperation."
"China has always adhered to the basic national policy of reform and opening up, and is committed to creating a market-oriented, rule of law, and internationalized first-class business environment." Shu Jueting introduced that from January to July this year, China's actual utilization of US capital increased by 25.5% year-on-year, demonstrating the confidence of US funded enterprises in China's business environment. Recently, the State Council issued the "Opinions on Further Optimizing the Foreign Investment Environment and Increasing the Attraction of Foreign Investment", proposing 24 policy measures in 6 aspects, with the aim of creating a more optimized investment environment for foreign investors. At present, the Ministry of Commerce is working closely with various departments and localities to promote effective implementation. The door to China's opening up to the outside world will only continue to widen, and we will continue to welcome companies from various countries, including the United States, to invest in China and share development opportunities.
When answering questions from reporters about whether China and the United States are discussing reducing or canceling the current tariffs on each other's imported goods, Shu Jueting responded that China has always opposed the US imposing an additional 301 tariff on China and expressed serious concerns about this during the talks. The 301 tariff measures imposed by the United States on China have been ongoing for five years, seriously disrupting the normal development of bilateral trade between China and the United States, bringing additional economic burdens to businesses and American consumers in both countries, disrupting the global trade order, and affecting global economic stability and security. The World Trade Organization has also clearly ruled that the US 301 tariff violates World Trade Organization rules. Canceling all additional tariffs on China would benefit both China and the United States, as well as the entire world.