China and the United States reached basic consensuses on properly addressing several important economic and trade issues of respective concerns, and will then go through their respective domestic approval procedures, Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce, said in Malaysia's Kuala Lumpur on Sunday.
Li made the remarks when briefing the press following the new round of China-U.S. economic and trade talks held over the past two days.
Over the past month or so, China-U.S. economic and trade relations have experienced some turbulence and fluctuations, which have drawn attention from the world, Li said.
He said that since the China-U.S. economic and trade talks in Geneva this May, China has strictly followed the consensuses reached in multiple phone calls between the two heads of state, faithfully and earnestly implemented the outcomes of the economic and trade talks, and carefully safeguarded the hard-won, relatively stable China-U.S. economic and trade cooperation relationship.
Such turbulence and fluctuations are not what China wishes to see, Li noted.
Over the past two days, the economic and trade teams from China and the United States engaged in in-depth and candid discussion on issues including the U.S. Section 301 measures on China's maritime, logistics and shipbuilding sectors, extension of the suspension of reciprocal tariffs, fentanyl-related tariff and counternarcotics cooperation, expanding trade, and export controls, said Li.
The two sides conducted constructive discussions on solutions to properly address the concerns of both sides, and reached basic consensuses, he added. The U.S. side expressed its position in a tough manner, and the Chinese side remained resolute in safeguarding its interests, Li said.
He noted that throughout the talks, the economic and trade teams of both countries maintained mutual respect and engaged in dialogue on an equal footing.
Going forward, the two sides will further enhance communication and exchanges, working actively to foster more stable and sound development of China-U.S. economic and trade relations, said Li.
Li also expressed his appreciation to the Malaysian government for its warm hospitality and thoughtful arrangements as the host.
China, US reach basic consensuses on properly addressing key economic, trade issues
China, US reach basic consensuses on properly addressing key economic, trade issues
China, US reach basic consensuses on properly addressing key economic, trade issues
China's development has never been a "threat" to anyone but the source of growth advancing common development of all countries, Foreign Ministry spokesman Lin Jian said at a regular press conference in Beijing on Friday.
Some Western media and think tanks are peddling so-called "China Shock 2.0," saying that "China is achieving fast development in high-tech sectors such as renewable energy and AI and relies on foreign markets to absorb its overcapacity, thus reducing the market share of developed countries and sending more serious shock waves to the global economy compared with the era of traditional manufacture industry," while there are foreign commentators saying that the "China Shock 2.0" argument ignores the genuine innovation occurring within the Chinese industrial ecosystem and that Chinese export is the exact booster of the global economy that is needed in the turbulent period and more indispensable than ever.
Commenting on that, Lin said: "From the world's factory to the world's market and innovation powerhouse, China's development is achieved through strong performance driven by innovation and brings tangible cooperation opportunities and space to the world. High-quality Chinese products represented by the 'old three' of textiles, furniture and home appliances have stabilized the global industrial and supply chain, lowered the living cost of global consumers and eased the inflationary pressure worldwide. China's green production capacity represented by the 'new three' of electric vehicles, batteries and solar panels has bridged the gap between supply and demand in global green development and bolstered the global energy transition and low-carbon development. Moreover, China's high-tech products represented by the 'new new three' of robots, AI and innovative drugs have broken high-tech barriers and monopoly and enabled people in more countries to access affordable new technologies," said the spokesman.
"Openness and cooperation bring about progress and win-win result. China's development has never been a 'threat' to anyone but the source of growth advancing common development of all countries. What really creates 'shocks' to the world has never been the innovation of Chinese companies and efficiency of Chinese industrial capacity, but protectionist moves of setting up barriers, decoupling and severing industrial and supply chains. China will stay committed to high-standard opening up, defend the multilateral trading system and provide more certainty and new impetus to the world economy with its own steady development," said Lin.
China's development never a threat: FM spokesman
