Abstract Chinese Minister of Commerce Gao Hucheng at a press conference February 21 pointed out that Sino-US trade war should be the option, in the case of the current world economic recovery is still weak, as the world's two largest economies, in The United States and the United States should work together to promote bilateral trade investment...
China’s Minister of Commerce Gao Hucheng pointed out at the press conference on February 21 that the Sino-US trade war should not be an option. As the current world economic recovery is still weak, as the world’s two largest economies, China and the United States The two sides should work together to jointly promote the sustained growth of bilateral trade and investment, which will not only benefit the two peoples and the economies of the two countries, but also contribute to the recovery and growth of the world economy. He pointed out that China's trade and investment also brought huge benefits to the United States. From the perspective of trade in goods, China is the fastest growing export market in the United States except North America. 26% of Boeing aircraft exported by the United States, 56% of soybeans, 16% of cars, 15% of agricultural products and 15% of integrated circuits are sold to China. "The recent talks between the two heads of state and contacts at all levels have given us reason to believe that the healthy and stable Sino-US economic and trade relations and the tangible benefits brought about by the two countries and the two peoples are the development of economic and trade relations between the two countries. The foundation of the Ministry of Commerce, Gao Hucheng, said at a press conference held on February 21st at the State New Office.
Gao Hucheng pointed out that the Sino-US economic and trade relations are both beneficial and painful. No matter how the US policy toward China changes, Sino-US economic and trade relations will eventually return to the track of mutual benefit and win-win.
The data shows that in 1979, when China and the United States established diplomatic relations, the bilateral trade volume was only 2.5 billion US dollars. In 2016, 38 years later, the trade volume between China and the United States reached 519.6 billion US dollars, an increase of 207 times. In 2016, bilateral service trade exceeded US$100 billion, and the cumulative investment between China and the United States has exceeded US$170 billion.
Gao Hucheng pointed out that since the establishment of diplomatic ties, Sino-US economic and trade relations have developed rapidly and have always been the "ballast stone" and "propeller" of the relationship between the two countries. We use the blending of you and me to describe the Sino-US trade. Relationships are the most appropriate.
For China, the United States is China's largest export market and one of the important sources of foreign investment. By the end of 2016, the number of US investment projects in China had reached 67,000, and the actual investment was nearly 80 billion US dollars, accounting for 7.8% and 4.5% of China's approved foreign-funded enterprises and actual utilized foreign capital, respectively. US-funded enterprises have made important contributions to China's employment, taxation and economy.
For the United States, China’s trade and investment has also brought enormous benefits to the United States. From the perspective of trade in goods, China is the fastest growing export market in the United States except North America. In the past decade, the average growth rate of US exports to China has reached 11% per annum. China is the largest export market for aircraft manufacturing, soybeans, agriculture, etc., and the second largest export market for agricultural products, automobiles and integrated circuits. 26% of Boeing aircraft exported by the United States, 56% of soybeans, 16% of cars, 15% of agricultural products and 15% of integrated circuits are sold to China.
In terms of trade in services, there is only one tourist. In 2015, the number of Chinese tourists going to the United States reached 2.66 million. On average, 13,000 people traveled to and from the Pacific coast every day. There was one flight every 17 minutes. The per capita consumption of Chinese tourists in the United States is about 8,000 US dollars, and the tourism income brought to the United States exceeds 21 billion US dollars. In the next five years, China's outbound tourism will reach 700 million passengers, which will bring huge business opportunities to American companies and the US market.
At the same time, the US trade with China has created a large number of jobs for the United States. According to the statistics of the United States, the exports of US goods and services to China in 2015 created 600,000 and 310,000 jobs respectively for the United States. The Oxford Institute estimates that in 2015, US imports from China boosted US gross domestic product by 0.8 percentage points and supported 1.8 million jobs.
In the investment field, China is investing in greenfield investment and mergers and acquisitions in the United States. By the end of 2016, Chinese companies have accumulated nearly 50 billion U.S. dollars in non-financial direct investment in the United States. They have invested in 44 states in the United States and created nearly 100,000 jobs for the United States. US investment in China has also brought huge benefits to American companies. Interests. According to the China Business Environment Survey released by the US-China Trade and Trade Commission in October 2016, 90% of US-funded enterprises have achieved profitability in China.
Gao Hucheng pointed out that just as the leaders of China and the United States jointly believe that cooperation is the only correct choice between China and the United States. With the rapid development of bilateral economic and trade cooperation, China and the United States should always maintain consultation and communication, and properly resolve frictions and differences in bilateral economic and trade relations through dialogue and cooperation.
"We believe that the trade war should not be an option. In the current world economic recovery is still weak, as the world's two largest economies, China and the United States should work together to jointly promote the continued growth of bilateral trade and investment, not only can Benefiting the two peoples and the economies of the two countries is also conducive to the recovery and growth of the world economy," he said when talking about Sino-US trade.
Gao Hucheng pointed out that dealing with trade friction requires cooperation and communication between the two companies. An important lesson in dealing with trade disputes between China and its trading partners is that through the cooperation of the two companies, the government can encourage and support it and properly resolve it. If the industry cannot solve it, the interests of Chinese enterprises will be safeguarded in a reasonable, compliant and legal manner in accordance with the relevant provisions of the WTO.
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