Chinese commerce officials have been intensively meeting representatives from the U.S. business community and academia, engaging in in-depth interactions on topics including China-U.S. economic and trade relations and U.S. companies' development in China. A Chinese expert said that the trend underscores China's opening-up commitment and the country's goal of a stable, healthy and sustainable bilateral relationship. Li Chenggang, China International Trade Representative with the Ministry of Commerce (MOFCOM) and Vice Minister of Commerce, met with Alex Rogers, President of Qualcomm Technology Licensing, in Beijing. While meeting a delegation of member companies of the American Chamber of Commerce in China he said that China always welcomes companies from all countries, including the U.S., to invest in China and share in its development opportunities. Vice Minister Li Li also met Jeffrey Sachs, Professor at Columbia University.
"Chinese commerce officials' intensive exchanges with U.S. business and academic representatives send a signal of China welcoming American companies to expand in the China market, while China hopes to maintain a stable, healthy and sustainable China-U.S. relationship," Huo Jianguo, Vice Chairman of the China Society for World Trade Organization Studies told the Global Times. “China's stable economic growth will bring more opportunities for multinationals across the world, injecting more vitality and certainty into the world economy,” Huo said. Following positive progress in recent economic and trade talks in Geneva and London, U.S.-China bilateral trade recovered to more than CNY350 billion last month from less than CNY300 billion in May, said Wang Lingjun, Deputy Director of the General Administration of Customs (GAC).
The third China International Supply Chain Expo (CISCE) has also attracted active participation by U.S. companies, including Nvidia, Apple, Qualcomm and Tesla. Tesla is attending the CISCE for the third consecutive year in Beijing. This year, Tesla showed products including its globally best-selling Model 3 and Model Y, the V4 Supercharger, and a second-generation humanoid robot. As Tesla's global export center, the Shanghai Gigafactory has an annual production capacity exceeding 950,000 cars, with a component localization rate surpassing 95%, involving more than 400 first-tier local suppliers in China. The factory rolls off one assembled vehicle every 30 seconds, with those cars being exported to multiple markets including Europe and the Asia-Pacific region, fully demonstrating the synergy advantages of “Shanghai speed” and “China's smart manufacturing,” the company said. “While the sweeping U.S. tariffs caused disruptions to the normal global trade order, many U.S. businesses have maintained close cooperation with China, which is decided by economic principles,” He Weiwen, Senior Fellow at the Center for China and Globalization, told the Global Times.
