China, US business groups discuss cooperation in Washington

China

China, US business groups discuss cooperation in Washington

2026-08-01 17:20 Last Updated At：20:17

Delegates from the China Council for the Promotion of International Trade (CCPIT) met with members of the US-China Business Council in Washington, D.C., on Friday for exchanges and discussions on strengthening economic and trade cooperation.

Ren Hongbin, chairman of CCPIT, said the council is ready to work with the US-China Business Council to build more high-quality platforms for government-business dialogue and trade exchanges, and to jointly promote cooperation between the two countries' business communities.

U.S. representatives noted that 2026 is the "China Year" of the Asia-Pacific Economic Cooperation (APEC) and said American companies hope to take part constructively and pragmatically in related events.

"As American companies are committed to being in China, they're committed to partnering with Chinese companies. They value their relationship with CCPIT and recognize that CCPIT and these types of exchanges help everybody," said Sean Stein, president of the US-China Business Council.

The U.S.-China Economic and Trade Cooperation Forum and the promotion meeting for the 5th China International Supply Chain Expo (CISCE) was held on Thursday in Chicago, drawing in over 180 representatives from political and business circles of the two countries.

As the world's first national-level exhibition focusing on supply chains, the CISCE has been an internationally shared public good since the first edition was held in 2023. The fifth edition is expected to be held in 2027.

Ren said at the event that China is accelerating the development of new quality productive forces, and there is broad potential for industrial cooperation between Chinese and American companies in areas such as artificial intelligence, green development, and the digital economy.

"Evolving from the world's factory to the world market and now an innovation hub, China will further expand institutional opening up and steadily foster a market oriented, law-based, internationalized business environment. We welcome more U.S. companies to come to China, embrace China opportunity 2.0 and achieve greater success in China," Ren said.

Eurozone inflation edges up to 2.9 pct in July as energy prices rise

Annual inflation in the eurozone is expected to edge up to 2.9 percent in July from 2.8 percent in June, according to a flash estimate released by Eurostat on Friday.

The increase was mainly driven by renewed energy price pressure. Energy prices are expected to rise 10.0 percent year-on-year in July, up from 8.5 percent in June, according to Eurostat, the statistical office of the European Union (EU). Services inflation is also expected to rise to 3.3 percent from 3.2 percent a month earlier.

Food, alcohol and tobacco prices are estimated to rise 1.2 percent year-on-year, down from 1.5 percent in June, while non-energy industrial goods are expected to post an annual inflation rate of 0.9 percent, up from 0.7 percent. Core inflation, which excludes energy, food, alcohol and tobacco, is estimated at 2.5 percent in July, up from 2.4 percent in June.

According to Eurostat data, inflation rose in three of the eurozone's largest economies in July. Germany's rate increased to 2.8 percent from 2.4 percent in June, France's to 2.4 percent from 2.0 percent, and Spain's to 3.8 percent from 3.6 percent. Italy's rate, meanwhile, edged down to 2.9 percent from 3.0 percent.

Among eurozone members with available data, Lithuania is estimated to have posted the highest annual inflation rate in July at 5.6 percent, while Estonia is estimated to have posted the lowest at 2.0 percent.

The data came after the European Central Bank (ECB) decided last week to keep its three key interest rates unchanged. The ECB said that the outlook for energy prices remained highly volatile and the full inflationary impact of the energy shock had yet to play out.