Enlarge Common Interest and Extend Cooperation —— Speech Delivered by Wang Chao at Forum on Sino-U.S. Economic and Trade Cooperation 2012
Forum on Sino-U.S. Economic and Trade Cooperation 2012 was held in Beijing in the morning of August 28. Mr. Wang Chao, Vice Minister of Commerce, attended and addressed the opening ceremony.
Wang Chao said that Sino-US economic and trade cooperation has maintained a momentum of rapid development in recent years. China and the United States has been each other's second largest trading partner for a long time. Bilateral trade in goods in 2011 amounted US$ 446.7 billion, 180 times of that in the year when the two countries established diplomatic relations. China’s imports from the U.S. in 2011 exceeded US$ 100 billion for the first time, registered US$ 122.2 billion, which made China become America's fastest growing export market for 11 consecutive years. China is America’s largest export market of agricultural products and also America’s important market overseas for its automobiles, airplanes and other mechanical and electrical products. At the same time, the two countries carried out fruitful cooperation in investment. By the end of 2011, there were 61,000 American investment projects in China, with a contract value of US$162.3 billion and actural input of US$ 67.6 billion. American enterprises investing in China achieved great results and its enterprises have become the profit center of parent companies of multinational companies. Meanwhile, Chinese enterprises investing in the U.S. developed rapidly. The direct investment of Chinese enterprises in the U.S. to the end of 2011 surpassed US$ 6 billion by the end of 2011. Chinese enterprises investing in the U.S. are warmly welcomed by American cities and states. The U.S. is becoming an important investment base overseas for Chinese enterprises.
Wang Chao pointed out that in the face of profound changes in international economy rising global challenges and interdependence between countries, China and the U.S. need to maintain stable development in economic ties. The two countries should continue macroeconomic policy coordination, work together against trade protectionism, and jointly cope with challenges, as well as properly solve each other's economic and trade concerns, expand common interests and create new space for future cooperation. The two countries should build stronger economic relations and better cooperation framework so as to contribute to the recovery of world economy and make it strong and sustainable.
Wang Chao said that in order to promote the healthy development of Sino-US economic and trade relations, the two should uphold openness and inclusive concept, implement packages of plans on trade investment and cooperation, broaden areas of cooperation, boost bilateral trade and investment, resolve existing differences and avoid interferences caused by politicizing economic issues. The Chinese and U.S. governments should work for a fairer and more favorable commercial environment for enterprises of both sides, and China has always been upholding openness, sincerity and innovative concepts in promoting Sino-U.S. trade ties. The Chinese government is committed to simplify approval procedures, strengthen intellectual property rights protection, and guarantee the legitimate rights and interests of the American investors in China. In recent years, MOFCOM organized several trade promotion activities for Chinese enterprises to invest in the U.S., serving as an impetus to enhance the level of bilateral economic and trade cooperation. We sincerely hope that all sectors in the U.S. could treat the problems occurred in the Sino-U.S. economic and trade cooperation rationally and objectively, implement the consensus reached by the head of state of two countries as China, and strive to build mutual respect, mutual benefit and win-win economic partnership.
The Forum is organized by Chinese Academy of International Trade and Economic Cooperation of MOFCOM. More than 200 representatives from Chinese and the U.S. governments, business associations and enterprises attended the Forum and deliberated on the theme of "Expanding Common Interests and Building a Community of common Interests".
Wang Chao said that Sino-US economic and trade cooperation has maintained a momentum of rapid development in recent years. China and the United States has been each other's second largest trading partner for a long time. Bilateral trade in goods in 2011 amounted US$ 446.7 billion, 180 times of that in the year when the two countries established diplomatic relations. China’s imports from the U.S. in 2011 exceeded US$ 100 billion for the first time, registered US$ 122.2 billion, which made China become America's fastest growing export market for 11 consecutive years. China is America’s largest export market of agricultural products and also America’s important market overseas for its automobiles, airplanes and other mechanical and electrical products. At the same time, the two countries carried out fruitful cooperation in investment. By the end of 2011, there were 61,000 American investment projects in China, with a contract value of US$162.3 billion and actural input of US$ 67.6 billion. American enterprises investing in China achieved great results and its enterprises have become the profit center of parent companies of multinational companies. Meanwhile, Chinese enterprises investing in the U.S. developed rapidly. The direct investment of Chinese enterprises in the U.S. to the end of 2011 surpassed US$ 6 billion by the end of 2011. Chinese enterprises investing in the U.S. are warmly welcomed by American cities and states. The U.S. is becoming an important investment base overseas for Chinese enterprises.
Wang Chao pointed out that in the face of profound changes in international economy rising global challenges and interdependence between countries, China and the U.S. need to maintain stable development in economic ties. The two countries should continue macroeconomic policy coordination, work together against trade protectionism, and jointly cope with challenges, as well as properly solve each other's economic and trade concerns, expand common interests and create new space for future cooperation. The two countries should build stronger economic relations and better cooperation framework so as to contribute to the recovery of world economy and make it strong and sustainable.
Wang Chao said that in order to promote the healthy development of Sino-US economic and trade relations, the two should uphold openness and inclusive concept, implement packages of plans on trade investment and cooperation, broaden areas of cooperation, boost bilateral trade and investment, resolve existing differences and avoid interferences caused by politicizing economic issues. The Chinese and U.S. governments should work for a fairer and more favorable commercial environment for enterprises of both sides, and China has always been upholding openness, sincerity and innovative concepts in promoting Sino-U.S. trade ties. The Chinese government is committed to simplify approval procedures, strengthen intellectual property rights protection, and guarantee the legitimate rights and interests of the American investors in China. In recent years, MOFCOM organized several trade promotion activities for Chinese enterprises to invest in the U.S., serving as an impetus to enhance the level of bilateral economic and trade cooperation. We sincerely hope that all sectors in the U.S. could treat the problems occurred in the Sino-U.S. economic and trade cooperation rationally and objectively, implement the consensus reached by the head of state of two countries as China, and strive to build mutual respect, mutual benefit and win-win economic partnership.
The Forum is organized by Chinese Academy of International Trade and Economic Cooperation of MOFCOM. More than 200 representatives from Chinese and the U.S. governments, business associations and enterprises attended the Forum and deliberated on the theme of "Expanding Common Interests and Building a Community of common Interests".
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