CCIEE Holds Press Briefing for The Third Annual U.S.-China CEO and Former Senior Officials’ Dialogue

CCIEE Holds Press Briefing for The Third Annual U.S.-China CEO and Former Senior Officials’ Dialogue

On July 19, 2012, the press briefing for the Third Annual U.S.-China CEO and Former Senior Officials’ Dialogue, co-hosted by China Center for International Economic Exchanges and the U.S. Chamber of Commerce (USCC), was held at Beijing St. Regis Hotel. Mr. Wei Jianguo, Vice-Chairman and Secretary General of CCIEE and Mr. Myron Brilliant, Senior Vice-President of the USCC, jointly presided over the meeting. They summarized the outcome of the dialogue and answered questions from the journalists.

Mr. Wei Jianguo pointed out that the third dialogue has been more straightforward, frank and effective than the previous two dialogues. Both the U.S. and Chinese delegates agreed that the economic restructuring undertaken by the two nations is in the interest of both sides. The current trade imbalance between China and the U.S. has ensued in the context of the economic globalization and global shifting of the industries. Therefore, it needs to be resolved through wide economic restructuring.

In order to provide the two nations with stronger force driving force for the development of trade and economic relations, China and the U.S. should strengthen economic and trade cooperation at higher level and a wider range. The current scale of mutual investment does not match with the two nations’ status in the world economy, and there is severe imbalance in the two-way investment. A number of obstacles have impeded investment in new technology and products, such as market entry barrier, the difficulty in fully realizing the value of investment, inadequate transparency of supervision and its instability, as well as the unfairness in the process of execution. The two governments are advised to increase their policy transparency, expand the access of investment, simplify investment reviews and improve the investment environment. Apart from that, both sides agreed that a high standard of bilateral investment agreement benefiting the business communities of the two nations will help to protect investors’ interest. The U.S.-China CEO and Former Senior Officials’ Dialogue has become a vital platform for promoting mutual understanding and consensus, as well as expanding the potential for cooperation. Thus, we should make it a long-term event and establish a task force to institutionalize the dialogue.

Mr. Myron Brilliant gave an introduction of the dialogue. He pointed out that the dialogue is very successful. The delegates from both sides stressed the importance of the U.S.-China cooperation and hoped to jointly propel the development of the bilateral economic relations. During the dialogues, the delegates discussed a number of issues, such as the IP protection, trade relation and friction, investment, and ways to strengthen the economic relation through public policy and the private sector. They also reviewed the possibility of establishing a FTA between the U.S. and China. Mr. Brilliant gave a special thanks to CCIEE and its Chairman Mr. Zeng Peiyan for the warm reception the U.S. delegates received during the dialogue, and the efforts made by CCIEE. It demonstrates that, CCIEE and Chinese government concern about the U.S. business community, and indeed greatly support the development of the bilateral economic relations.

Mr. Wei Jianguo and Mr. Myron Brilliant answered questions regarding the impact of non-governmental dialogues on government policy, the possibility of the U.S-China FTA, the reflux of the U.S. manufacturing and the prospect of the U.S.-China bilateral investment.