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Essential oil products from the United States are on display at an exhibition in Shanghai. （Photo / Xinhua）
The two sides maintained regular communication on the economy, trade
China reiterated on Thursday that the lifting of additional tariffs by the US side is in the fundamental interests of consumers and producers in China and the United States, and is conducive to the recovery of the global economy, said the Ministry of Commerce.
The ministry made the remarks after Vice Premier Liu He had a video chat with US Treasury Secretary Janet Yellen earlier this week at the invitation of the US side.
During the conversation, the Chinese side expressed concern over issues such as the lifting of additional tariffs, US sanctions, and fair treatment of Chinese companies.
Ministry spokeswoman Shu Jueting explained that the two sides spoke for about 90 minutes and had pragmatic, professional and in-depth exchanges on a wide range of topics concerning economics and trade.
They discussed the macroeconomic situation and policies of China and the United States, including conditions for economic growth, inflationary pressures, financial stability, supply chains and other matters, the official said. Trade.
They also exchanged views on specific cooperation in multilateral and bilateral fields such as financial market surveillance and cooperation within the framework of the G20, added Shu.
Liu, who is also a member of the Political Bureau of the Communist Party of China Central Committee and head of the Chinese side of the China-U.S. Comprehensive Economic Dialogue, spoke twice with Yellen and U.S. Trade Representative Katherine Tai via video and by telephone. conversations since May this year, according to information released by the ministry.
China and the United States maintained communication on economic and trade issues. They agreed to continue communication at all levels to focus on practical cooperation and solving specific problems from the perspective of the two countries and the whole world, she added.
With improved communication between the two countries helping to reduce downside risks to the global economy, experts said it would be helpful for China and the United States to improve bilateral relations, as well as jointly raise global challenges such as COVID-19, climate change and supply. chain operations.
China has maintained stable growth so far this year, with strong demand for its exports to the United States, the European Union and member countries of the Association of Southeast Asian Nations, while attracting more foreign direct investment to its market, said Ma Yu, a researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing.
US electric car maker Tesla said Monday it has built a research center and a data center in Shanghai, both of which will soon be commissioned.
Tesla’s Gigafactory, also located in Shanghai, began production in late 2019 and currently has an annual production capacity of 450,000 vehicles, much of which is exported.
In addition to creating conditions to promote bilateral trade relations, Shu of the Commerce Department urged the United States to immediately correct its wrongdoing and provide a fair, open, just and non-discriminatory business environment for Chinese companies investing and operating in the United States, after Washington. earlier this week, China Telecom Americas ordered to discontinue its services within 60 days.
Shu said the US move was an overgeneralization of the concept of national security, abuse of national power and malicious suppression of a Chinese company without a factual basis. It also undermined the atmosphere of cooperation between the two sides.
China’s trade and economic team has filed solemn declarations with the United States, saying Beijing is seriously concerned about the ban, she said, adding that the government will continue to take necessary measures to protect the legitimate rights and interests of Chinese enterprises.
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