China releases white paper on China-U.S. economic, trade relations

China's State Council Information Office on Wednesday released a white paper titled "China's Position on Some Issues Concerning China-U.S. Economic and Trade Relations."

The Chinese government issued the document to clarify facts about China-U.S. economic and trade relations, and elaborate the position of the Chinese side on relevant issues, according to the white paper.

The document comprehensively presents China's sincerity and actions in faithfully fulfilling the phase-one trade agreement between the two countries, and systematically articulates China's firm stance on practicing the principles of free trade and strictly adhering to World Trade Organization (WTO) rules.

According to the white paper, the U.S. side's violation of its contractual obligations and its implementation of unilateral and protectionist measures have adversely affected bilateral economic and trade relations.

It calls on both sides to resolve differences through dialogue on an equal footing and mutually beneficial cooperation, thereby promoting the healthy and stable development of China-U.S. economic and trade relations.

China releases white paper on China-U.S. economic, trade relations

China releases white paper on China-U.S. economic, trade relations

China releases white paper on China-U.S. economic, trade relations

China releases white paper on China-U.S. economic, trade relations

China releases white paper on China-U.S. economic, trade relations

China releases white paper on China-U.S. economic, trade relations

Institutional opening-up, a key topic at this year's two sessions and in the 15th Five-Year Plan, is fundamentally about establishing long-term effectiveness through systematic, nationwide efforts rather than fragmented, short-term actions, said a deputy to the 14th National People's Congress (NPC) on Friday in Beijing.

The "two sessions", a major event in China's political calendar, refer to the annual meetings of China's top legislature, the National People's Congress (NPC), and the top political advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

Peng Shou, also an academician of Chinese Academy of Engineering, explained that by developing comprehensive pilot frameworks in free trade zones like Shanghai and the Hainan Free Trade Port, China is transforming fragmented policies into cohesive systems, such as addressing processing VAT to boost high-tech industries; and exploring the expansion of models like negative lists and digital infrastructure to create a more transparent and predictable environment for global partners.

"I believe that a system is about long-term effectiveness, it's not a short-term move, and not fragmented. It's not about handling isolated cases, but about involving everyone, the whole society," said Peng.

China has built a series of comprehensive testing grounds for institutional openness.

With 22 free trade zones covering the entire country, a full-scale pilot framework has been established. Especially in free trade zones like Shanghai and the Hainan Free Trade Port, China has launched over 110 innovative, integrated pilot measures.

"Turning previous fragmented small policies into a systematic framework is key. For example, the issue of processing and value-added tax is well addressed. By incorporating processing technologies and adding value, it drives the development of high-tech industries," said Peng.

Such models could also be promoted in other regions.

Peng also said that the Hainan Free Trade Port's special customs operations can be used as a great example.

"We may apply this negative list model to some cities or development zones. Additionally, we can focus on digital infrastructure, using AI and digital technology as a foundation in cities like Beijing and Shanghai," he said.

At its core, institutional opening-up is not just about aligning with global standards; it's about creating a more open, transparent, and predictable environment that attracts global partners, according to Peng.

By embracing this new model, China is not only enhancing its position in the global market but also reshaping its own economic future, he added.

NPC deputy emphasizes long-term, systematic impact of institutional opening-up strategies