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US told to foster biz-friendly climate

By WANG KEJU | China Daily | Updated: 2023-11-24 09:03
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A view of the Huangpu River in Shanghai. [Photo/VCG]

China calls on the United States to translate its commitments into practical actions and foster a more enabling climate for enterprises to engage in two-way trade and investment cooperation, the Ministry of Commerce said on Thursday.

Decoupling and so-called de-risking will only obstruct normal business operations and investment, said Commerce Ministry spokeswoman Shu Jueting at a news conference in Beijing, stressing that such actions are not in the fundamental interests of businesses on both sides.

China hopes the US will take concrete steps and deliver on its assurance that it will not seek to contain or suppress China's development or to decouple from the country, as a stable and growing China is good for the US and the whole world, Shu said.

As the world's largest developing country and the largest developed country, China and the US are highly complementary economically and gain from each other's growth, said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.

In particular, the two nations share a great deal of mutual interests in a wide range of fields, including traditional areas such as trade, agriculture, as well as emerging fields like artificial intelligence and climate change, Zhou added.

Moreover, China boasts a complete industrial system and a well-developed supply chain while the US remains the world's largest consumer market and possesses cutting-edge technologies, Zhou said.

Cooperation between the two countries can capitalize on these strengths to further promote economic growth and job creation, he added.

Trade and investment cooperation between the two sides will also help promote global economic recovery and inject much-needed certainty and stability into the fast-shifting international landscape, said Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee.

As two of the largest economies in the world, their collaboration sets a positive example for international trade relations and sends a positive message of stability and confidence to markets worldwide, Xu added.

Though challenges and differences remain, it is essential for both countries to continue engaging in constructive dialogue. By maintaining open lines of communication, respecting each other's interests and seeking win-win solutions, China and the US can build a more robust and mutually beneficial economic partnership, Xu said.

In times of economic turbulence, it is vital to enhance macro policy communication and coordination between China and the US, so as to anchor market expectations, mitigate uncertainties and stabilize the global financial system, Xu said.

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