On July 23, Minister of Commerce Wang Wentao held a group meeting with the delegation of the U.S.-China Business Council (USCBC) Board of Directors led by the Board Chair Rajesh Subramaniam. Both sides exchanged views on issues including China-U.S. economic and trade relations and the development of U.S. companies in China.

Minister Wang said that the Third Plenary Session of the 20th CPC Central Committee just successfully concluded. The meeting has made systemic deployment of deepening reform comprehensively to advance Chinese modernization, with further emphasis on making our reforms integrated, focused, and effective. A high-standard socialist market economy is the important guarantee for Chinese modernization, and opening up is a defining feature of Chinese modernization. China will stay committed to the basic state policy of opening to the outside world and continue to promote reform through opening up and to develop new institutions for a higher-standard open economy by removing barriers for foreign investment access and improving business environment. China welcomes companies across the world including U.S. companies to continue their operation in China and jointly enjoy development opportunities.

Minister Wang said that the historic meeting between Chinese and U.S. presidents in San Francisco has pointed out the direction for economic and trade relations of the two countries. The Ministry of Commerce of China and its U.S. counterpart have kept close contact with each other through communication mechanisms at multiple levels. China stands ready to work with the U.S. to implement the consensus reached between the two presidents via meetings and phone calls, and to create a favorable environment for the practical cooperation between businesses of the two sides. At the meeting, Minister Wang responded to specific concerns of U.S. companies one by one, clarified China’s positions on issues regarding the boundary of national security in economic and trade sectors, the imposition of tariffs by the U.S. on Chinese products, and so forth. Minister Wang stressed the severe potential consequences on U.S. companies in China of imposing restrictions on investment.

Rajesh Subramaniam thanked Minister Wang Wentao for clarifying the guiding principles of the Third Plenary Session of the 20th CPC Central Committee. China has sent a positive message to the world and boosted market confidence by showing its resolve to further deepening reform and continuing opening up. Economic and trade cooperation acts as a stablizing force for the two countries. The USCBC, along with its member companies, supports the two countries in expanding economic and trade cooperation and commits to long-term development in China.

(All information published on this website is authentic in Chinese. English is provided for reference only.)

Source：http://english.mofcom.gov.cn/article/newsrelease/significantnews/202407/20240703525943.shtml