Washington (People's Daily) - Chinese Ambassador to the US Qin Gang called for win-win cooperation between China and the United States as the only correct choice on Tuesday at the China General Chamber of Commerce USA Annual Gala 2022.
Qin Gang (Photo provided by to the People's Daily)
He highlighted the achievements of Sino-US economic and trade in 2021, expressed gratitude for all the hard work made to promote China-US economic and trade relations over the past year, and shared hopes for the business community in the new year.
In 2021, despite difficulties in bilateral relations, and challenges ranging from COVID-19 to tariffs, China-US trade relations still registered rapid development, Qin said. The two-way trade grew by nearly 30%, reaching a high of 755.6 billion dollars.
“It shows again that China-US economic and trade relations are win-win in nature,” said Qin.
Qin stressed that the two countries have highly complementary economic structures and deeply intertwined interests, and have broad common interests and great potential for cooperation, especially in trade.
Qin expressed his hope that the business community will have confidence, stay committed, and have perseverance in the next year.
“The Chinese economy enjoys great momentum,” said Qin. “Foreign investors are still optimistic about the Chinese market.”
Data from UNCTAD shows that in 2021, foreign direct investment to China reached a high of 179 billion dollars, up by 20% year-on-year. The Regional Comprehensive Economic Partnership, which China has joined, has come into effect. More than 90% of the trade in goods among the ratified members will eventually achieve zero tariffs.
China has also applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. The latest version of the negative list for foreign investment access has further opened China’s manufacturing sector, and expanded the pilot opening of the service industry.
Qin pointed out that the business community should continue to serve as a bridge and bond between our two countries, to cultivate an objective and rational view of both sides and tell the story of cooperation. He cited Cosco Shipping and Tesla as examples of win-win cooperation.
“We expect and welcome American entrepreneurs to China through the upgraded version of the ‘fast track’ to gain an up-to-date understanding of China and expand cooperation,” Qin said.
Qin emphasized that the United States is the largest consumer market, and China is the most populous country and the second largest consumer market, saying “visionary companies will continue to explore and tap deep into the two markets.”
According to surveys last year, Chinese enterprises will continue to support the operation of their subsidiaries in the US, and 95% of the surveyed American companies are profitable in China.
“We hope that you will persevere in cultivating the two markets and fulfilling social responsibilities to become popular choices among employees and customers,” Qin reiterated. “At the same time, we also hope that the US will provide a level playing field for Chinese enterprises.”
Qin concluded his speech by calling on the business community to uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation, follow the consensus reached by China and US Presidents in their virtual summit last year, and strive to realize the healthy and stable development of China-US relations in the next 50 years.