CCIEE Executive Vice Chairman Zhang Xiaoqiang Meets with Timothy Stratford, Chairman of the American Chamber of Commerce in China

On June 25, 2019, Zhang Xiaoqiang, Executive Vice Chairman of CCIEE, met with Timothy Stratford, Chairman of the American Chamber of Commerce in China. The two sides had frank exchanges on China-US economic and trade relations and other issues. Zhang Yongjun, Deputy Chief Economist of CCIEE, Xu Chaoyou, Director-General of the Department of External Affairs, and Zhang Huanbo, Deputy Director of the US-European Institute, were also present at the meeting.

Timothy Stratford said that it is now a crucial period for the China-US economic and trade consultations. The Chamber of Commerce is very concerned about the progress of the consultations and very supportive of the China-US economic and trade relations. The China-US economic and trade relations are very important to both sides and we cannot handle the problems simply. Instead, we should solve the problems in a constructive way. The uncertainty brought by the trade frictions has already affected the confidence of both Chinese and American companies. Hopefully, the consultations will move in a good direction as soon as possible and an agreement can be reached to satisfy the interests of both parties. The Chamber of Commerce is willing to conduct joint research with CCIEE on the problems encountered in the development of the China-US economic and trade relations and find solutions to the problems.

Zhang Xiaoqiang said that the economic volume, trade scale, and scientific and technological research and development of China and the US are among the best in the world. The China-US economic and trade relations are very important to both sides and the rest of the world. Due to the uncertainty produced by trade frictions, many international organizations and institutions have lowered the expected global trade growth rate and economic growth for 2019. China is still one of the most important investment destinations for US-funded companies because of its huge market, a large group of middle-income class, new market opportunities and institutional dividends. China’s economy is moving towards high-quality development, the industrial structure is continuously optimized and upgraded, and the research and development capabilities of enterprises are constantly improving. The application scope of new technologies such as 5G, Internet of Vehicles, Industrial Internet, and Smart City is expanding. The reform measures have been implemented: the implementation rules for the Foreign Investment Law are expected to be introduced this year, and a new negative list for foreign investment market access will be released at the end of this month. China has turned the pressure into motivation and is actively seeking opportunities. It will be able to meet different external challenges and achieve better development. CCIEE is willing to work with the Chamber of Commerce to conduct research on issues related to the development of China-US economic and trade relations.

Representatives from Intel, 3M, Dell and other participating companies also expressed their willingness to develop their business in China and promote the development of China-US economic and trade relations. In the end, the two sides exchanged views on US restrictions on Chinese companies’ investment, standards of law enforcement in China and the US, the “long-arm jurisdiction” of the US, and WTO reform.