A delegation of Chinese businesses met with representatives of the U.S. business community in Washington, D.C., on Wednesday to discuss the future of trade cooperation, as trade relations between the two countries continue to stabilize.
Comprised of more than 50 companies, the Chinese delegation is being led by Ren Hongbin, chairman of the China Council for the Promotion of International Trade, who said that despite a rocky year in China-U.S trade ties, there is now a sense of cautious optimism.
"In the organizing of this delegation, we have felt such strong interest from the Chinese [business] communities. And today, I have seen also that interest from the U.S. companies. We have undergone ups and downs in the bilateral relations. But one thing that is unchanged is the friendship between the two peoples and the strong interest to cooperate," Ren said.
American companies said the meetings help them better understand China’s rapidly evolving business environment.
"Some companies have not yet fully appreciated how much China has transformed over the last half decade, how much farther long China is in its ability to do research and development, its technological prowess, etc. And so I think an appreciation of what China has accomplished, and a better sense of its direction of travel, is something that's really needed," said Sean Stein, President of the US-China Business Council.
Among the participants is Corning, an American glass and materials company that supplies screens for iPhones and Apple Watches. Corning used the meetings to announce it will join the China International Supply Chain Expo which will be held in Beijing next June.
The recent improvement in ties is good news for companies who are hoping for smooth relations between the world's two largest economies.
"We are very glad to see that there's improvement in the bilateral relationship. As a company we have been innovating for 170 years in the area of material science. And for us to continue to do so, we want to see that the two largest economies of the world have a working relationship that's constructive. And this is exactly what we are seeing starting to happen, so we are very encouraged by it," said John Zhang, Chief Strategy and Development Officer of Corning.
With China set to host APEC in 2026 and possible reciprocal state visits ahead, business leaders hope China-US relations will remain stable into the new year and beyond.
Chinese business delegation visits US for bilateral exchanges, cooperation
