Press conference on economic outcomes achieved during China-US presidential meeting in Beijing
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E-mail China.org.cn, November 11, 2017
Xi Yanchun:
Now let's open the floor to questions. Please identify your media outlet before asking your questions.
Bloomberg:
As we can see from the two-day meeting, there was a natural chemistry between the two leaders. But it seems that there is no fundamental change taking place in the economic structures of both sides. And President Trump said that the China-U.S. relationship is not sustainable and fair. And it is said that more stronger measures will be taken by the U.S. government in the future weeks. So, how do you see the economic relations between China and U.S.? And will there be more measures taken to change the trade structure?
Zhu Guangyao:
At first, I quite agree with your opinions that both sides showcased a good interaction on the basis of mutual respect. The sound communication and coordination of both sides at the highest level ensured the healthy and sustainable development of China-U.S .relations. Since the Mar-a-Lago meeting, President Xi Jinping and President Trump have kept close communication. Looking back over the last months, the topics of discussion range from global issues to the specific China-U.S. economy, including various ways to communicate such as face-to-face encounters, exchanging telephone calls and sending letters. Since President Nixon's tour of China 45 years ago, the close communication between China and America is based on the mutual-respect, and laying a solid foundation for sustainable and healthy development of China-U.S. relations. And concerning your second question, about the future development of China-U.S. economic relations, I think this is directly linked to the sound communication between both sides. China-U.S. economic and trade relations are essentially mutually beneficial.
Just now I have noted that, during their talks in Beijing, President Xi particularly stressed to President Trump that seeking mutual benefits and reciprocity is the essence in the economic relations between China and the United States. President Xi also stressed that China-U.S. economic relations covers many areas like trade and investment as well as extensive cooperation in the field of the international economy. In this regard, President Trump expressed full consent. The important consensus reached by President Xi and President Trump aims at maintaining the sustainable and healthy development of China-U.S. economic relations and benefiting the Chinese and American peoples.
Certainly, the rapid development of China-U.S. economic relations doesn't just mean the annual over US$420 billion in total trade volume and over US$200 billion in bilateral direct investment. The figures are hardly a reflection of China-U.S. economic relations, in which the interests of both sides are closely intertwined and the two sides share in benefits. In other words, the two countries have become a community of close integration and shared benefits. On this premise, it is the aspiration of both sides to resolve the problems and contradictions arising from the rapid development of economic relations through consultations. It is a problem that President Trump wants to solve, and it is a problem that President Xi Jinping has already instructed relevant departments of the Chinese side to solve by enhancing policy coordination with the American side. All the approaches are to ensure the healthy and sustainable development of economic relations between China and the United states.
In preparation for President Trump's visit to China and the important meeting between President Xi Jinping and President Trump in Beijing, under the framework of a comprehensive economic dialogue between China and the United States, Chinese Vice Premier Wang Yang has maintained close policy communication and contacts with U.S. Secretary of Commerce Wilbur Ross and Secretary of the Treasury Steven T. Mnuchin. U.S. Secretary of Commerce Wilbur Ross visited China twice and made phone calls with Vice Premier Wang Yang many times. All the efforts made by both sides are to ensure that the meeting in Beijing between state leaders of China and the United States can achieve the desired results, which are not only substantive, strategic, and directional, but also specific and commercial.
As you can see, just now I have made a brief introduction of the common understanding of both sides on the nature of economic relations between the two countries, and the specific measures taken by the Chinese side to expand market access. The measures were hammered out in accordance with the principles defined in the 19th CPC National Congress and the strategic plans made by President Xi Jinping. In this regard, I think the approach will have a long-term, continuous impact. In terms of business cooperation, it doesn't just mean the over US$250-billion in contracts, either.
We believe that, with the joint efforts of both sides, the economic relations between China and the United States will realize a dynamic balance, mutual benefits and win-win situation, as president Xi Jinping stressed to President Trump during their talks in Beijing. Thank you.
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