CCIEE Executive Vice Chairman Zhang Xiaoqiang Meets with Executive Vice President of the U.S. Chamber of Commerce Myron Brilliant

On 19 January 2017, Zhang Xiaoqiang, Executive Vice Chairman and CEO of CCIEE, met with Myron Brilliant, Executive Vice President and Head of International Affairs at U.S. Chamber of Commerce (USCC). The two sides exchanged their views on such issues as the Trump Administration’s policies toward China, and the preparatory tasks for the next round of China-US Business Leaders and Former Senior Officials Dialogue. Wei Jianguo, Vice Chairman of CCIEE, Tami Overby, Senior Vice President for Asia at the USCC and other guests were present at the meeting.

Mr. Brilliant said that Washington is experiencing significant change. President-elect Trump has put great emphasis on business elite administration and appointed many business elites to top administration positions. The first three years after president Trump takes office will be vital for a smooth transition in China-U.S. economic and trade relations. USCC is willing to further strengthen cooperation with CCIEE to make the best use of the China-US Business Leaders and Senior Former Officials Dialogue, so as to promote efficient and effective communication between China and the US.

Zhang Xiaoqiang clarified the uncertainties that have been brought by president Trump and agreed on that the two sides should enhance mutual communication and understanding. In response to the viewpoint that FDI (Foreign Direct Investment) to China is not as popular as before, widely held by many American companies, he indicated that this is inaccurate. Both the world economic downturn and a slow economic growth in China have not just made the competition fiercer among the major players in China’s market, but also increased enterprises’ costs and ultimately led to a thinner profit margin. Apart from the pressure to make a profit, Chinese companies also under enormous pressure to compete with their fellow competitors. Nonetheless, this does not mean that China intends to exclude American companies. Last year, GM (General Motors) sold 3.3 million cars in China, more than what they sold in the US.

Besides, the dramatic increase in the number of Chinese people visiting the US for holiday and study every year has produced a serious deficit in China’s services trade with the US. China’s massive consumption market represents great potential for US commodities. Meanwhile, China is also the main source of the US services trade surplus.

Undoubtedly, win-win and mutual beneficial is the nature of the China-US economic cooperation. In the future, China will further open up the economy and this position was fully clarified by China’s president Xi Jinping at the World Economic Forum in Davos last winter.

On 17 January, the State Council of China released the “Circular of the State Council on Several Measures Concerning the Active Use of Foreign Capital”, clarifying that China will further relax control over market entry and create a fair and competitive market.  

China has become one of the fastest growing economies and the biggest market in the world. Therefore, China and the US should strengthen cooperation in the areas of economy, trade and investment in order to benefit the people and companies in both countries. CCIEE is willing to work harder with USCC to advance China-US economic and trade cooperation.

At the end of the meeting, the two sides also exchanged their views on the preparatory work for the next round of China-US Business Leaders and Former Senior Officials Dialogue.