China will remain at the center of global trade and sourcing, with American companies in China benefiting from positive and fair trade ties between the two countries, said Michael Hart, president of the American Chamber of Commerce in China (AmCham China).
With nearly 30 years of business experience in China, Hart has both witnessed and benefited from the growth of trade between China and the United States.
Hart revealed that according to the upcoming China Business Environment Survey Report by AmCham China, the number of U.S. companies listing China among their top three investment destinations has increased.
While Hart acknowledges that there may be some adjustments following U.S. President Donald Trump's inauguration, he remains confident that China will continue to play a pivotal role in global trade and that foreign companies will not leave in droves.
"I don't think that foreign companies are going to leave en masse. Every time there is a new administration on either side, every time a new rule is put on, companies have to pivot a little bit. But I don't think that China is not going to be the center. So, I do think China will be the center of international global trade and sourcing for a long time to come," he said.
China's trade with the U.S. in 2024 grew 4.9 percent year-on-year to 4.898 trillion yuan (668.06 billion U.S. dollars), roughly in line with China's overall growth rate of trade, according to data from the General Administration of Customs.
As an important platform for communication between U.S. businesses in China and the Chinese government and business community, AmCham China participated in 37 China-U.S. government ministerial meetings throughout 2024.
Hart stated that they oppose the imposition of additional tariffs and trade restrictions, as these measures are detrimental to American businesses.
"In general, we are not in favor of tariffs and restrictions. What I hope more than anything, is that when the Trump administration comes in, they continue to have dialogues with various stakeholders in China. Because of course we represent nearly 800 member companies who are here, who are active and have a lot to gain from positive fair trade back and forth," said Hart.
China remains key player in global trade, sourcing: AmCham China president
China remains key player in global trade, sourcing: AmCham China president
China will remain a global stabilizing factor and a constructive force in the transformation of the world, Chinese Foreign Minister Wang Yi said on Friday.
Wang, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the statement while addressing the "China in the World" session of the ongoing Munich Security Conference.
A multipolar world is both a historical necessity and a new reality taking shape, Wang said, adding that promoting an equal and orderly multipolar world is another major proposal put forward by President Xi Jinping, and it represents China's sincere aspiration for a multipolar world.
In his remarks, Wang elaborated on China's four key views regarding multipolarity.
Firstly, advocating equality among nations.
An unequal order is destined to collapse, Wang noted, adding that the democratization of international relations is unstoppable.
Adherence to equal rights, equal opportunities and equal rules should be the fundamental principles for building a multipolar world, Wang said.
China advocates equal treatment for all countries, big or small, and calls for greater representation and voice for developing countries in the international system, he stressed.
Every country's voice should be heard, and each country should find its place and play its role in a multipolar world, he added.
Secondly, respecting the rule of international law.
The purposes and principles of the UN Charter are the foundation for handling international relations and should be the cornerstone of building a multipolar world, he said.
A multipolar system cannot be one of disorder, said Wang, stressing that without rules, what was on the dining table yesterday could be on the menu tomorrow.
Major countries should take the lead in upholding integrity and the rule of law, and resolutely reject inconsistent behaviors and zero-sum games, he said.
China is committed to upholding the authority of international law, actively fulfilling its international responsibilities and obligations, and never engaging in exceptionalism and cherry-picking. In doing so, China provides the greatest certainty in today's uncertain world, Wang said.
It must be emphasized that there should be no double standards when it comes to observing international law, Wang stressed, adding that respect for the sovereignty and territorial integrity of all countries should mean support for China's complete reunification.
Thirdly, practicing multilateralism.
In the face of global challenges, no country can stand alone, while prioritizing one's own country will only lead to "multiple losses" for all parties, he noted.
The UN is the core platform for practicing multilateralism and promoting global governance, he said, the UN should be strengthened rather than dismantled.
The responsibility for addressing global challenges should be shared rather than pursuing selfish gains, and common challenges should be addressed through unity rather than confrontational blocs, he said.
China advocates a vision of global governance featuring extensive consultation and joint contribution for shared benefits, and firmly safeguards the authority and stature of the UN, earnestly fulfills the Paris Agreement, and has put forward and implemented three major global initiatives, providing public goods for improving global governance, Wang noted.
Lastly, upholding openness and win-win cooperation.
A multipolar world should be one where all countries develop together, he said, adding that protectionism is not the way out and the abuse of tariffs will benefit no one.
"Decoupling and severing supply chains" cuts off opportunities, while "building small yards with high fences" only isolates oneself, he said.
It is essential to adhere to openness and cooperation and support an equal and orderly multi-polarization of the world via universally beneficial and inclusive economic globalization, he said.
China is firmly committed to sharing development opportunities with all countries and is willing to promote the synergy between the Belt and Road Initiative and the EU's "Global Gateway" strategy, empowering each other and the world.
Wang emphasized that China has always believed that Europe is a crucial pillar in the multipolar world.
China and Europe are partners, not rivals, he stressed, adding that China is ready to work with the EU, taking the 50th anniversary of the establishment of China-EU diplomatic relations this year as an opportunity, to deepen strategic communication and mutually beneficial cooperation, and jointly open a brighter future of peace, security, prosperity and progress for the world.
After his speech, Wang answered questions from the audience on international order, the Ukraine crisis, and China-U.S. relations.
China remains constructive force in world transformation: FM