Mr. Zheng Xinli Meets with the Delegation of U.S. – China Economic and Security Review Commission

On the morning of July 30, 2010, Mr. Zheng Xinli, Permanent Vice Chairman of CCIEE, met with Mr. Daniel M. Slane, Chairman of the U.S. – China Economic and Security Review Commission (USCC). Also at the meeting were, Mr. Wang Xianlei, Deputy Director General of the Research Department, Mr. Xu Chaoyou, Deputy Director General of the Department of External Affairs, Mr. Xu Hongcai, Deputy Director General of the Information Department of CCIEE, and other delegates of USCC.

Mr. Slane said that the U.S. – China economic and trade relationship is getting closer as globalization deepens. However, the U.S. economy still faces many problems and he hopes to find solutions through this trip to China.

During the meeting, Mr. Zheng answered Patrick Mulloy’s questions about world economic imbalance, RMB appreciation and so on. Mr. Zheng Said that the current imbalanced economy is not caused by excessive exports from developing countries, but a result of over-borrowing and over-consumption in developed countries. Besides, exchange rate is not the decisive factor affecting exports. China has undertaken RMB exchange rate reform, improved the minimum wage and implemented other measures to reduce trade surplus.  

In response to William Reinsch’s question about China’s role and proposition in international trade negotiation, Mr. Zheng said that China has always upheld a proactive and cooperative attitude and given full support to the second round of Doha Talks. China is very concerned about the current rise of protectionism. China-U.S. trade is featured with vertical disintegration, the two countries have complementary advantages and have great potential for cooperation. He hopes that the U.S. can relax their excessive vigilance and caution, loosen its restrictions on exporting high-tech products to achieve a win-win result between China and the U.S.

Mr. Slane thanked Mr. Zheng for his explanations and promised to pass those messages to the U.S. congress.