Home>Top Issues

Good outlook for bilateral trade

Sunday,Jul 30, 2017

From: China Daily

 

Analysts from a leading Chinese think tank said they were optimistic about the prospects for China-US trade and investment, calling for a restart to negotiations on a bilateral investment treaty and for the promotion of cooperation in fields such as services trade and energy."We are optimistic about the prospects as Chinese entrepreneurs are optimistic about economic growth in the United States, which creates a huge potential for investment in the US," said Lu Jinyong, director of the China Center for Investment Promotion.

Lu spoke at a symposium on the China-US Comprehensive Economic Dialogue, hosted by the Center for China and Globalization (CCG)on Tuesday. The center is one of China’s top privately funded think tanks.

According to the Foreign Ministry, the dialogue focused on macroeconomic policies, trade and investment, and global governance, while seeking to expand cooperation and tackle differences.

CCG Director Wang Huiyao said China wanted fair treatment for Chinese companies investing in the US and more relaxed export controls, while the US wanted balanced trade.

The US is seeking wider opening-up by China to cut the trade deficit, due to growing interdependence between the two countries, Lu said. Data showed investment Chinese businesses have made in the US had surpassed those from the world’s largest economy.

Bilateral investment hit a new record high of $60 billion last year with $45.6 billion coming from China, according to a report jointly released by the CCG and the US-based Rhodium Group last month. China had a trade surplus of around $250 billion with the US last year.

Lyu Xiang, a researcher on US studies at the Chinese Academy of Social Sciences, said China’s trade surplus partly stems from different positions in the current global supply chain.

"Taking the iPhone as example, more than half of its components are purchased around the globe and then assembled in China, but Apple Inc takes half of the net profits," Lyu said. "So the US has to look at the deficit from an objective angle."

Cui Fan, a professor of international trade at the University of International Business and Economics in Beijing, said China and the US have increasingly shared interests.

China and the US should restart negotiations on a bilateral investment treaty, he said. BIT negotiations were initiated in 2008 and both countries agreed to exchange the second round of negative lists last June.

He Weiwen, a senior researcher at the CCG, said the treaty is in line with the economic interests of the US as the business community in the US has strongly called for such an agreement.

CCG’s Wang Huiyao said both countries can also cooperate in infrastructure and energy. US President Donald Trump has an ambitious plan to rebuild the infrastructure system as an important way to boost manufacturing and employment.

Chinese companies have been known for their cost-efficiency and efficiency in building highways, railways and ports. For example, CRRC Corporation Limited has bid for subway projects in Boston and Chicago, Wang said.

"Infrastructural cooperation can help achieve more balanced economic ties between the two countries," Wang added.

 

From China Daily,2017-7-28

 

  • Victor Gao: Non-Aligned Movement as relevant and important as ever before

    This year celebrates the 57th anniversary of the first Non-Aligned Movement (NAM) Summit, which took place in September, 1961 in Belgrade, the former Yugoslavia.

  • Skilled Immigrants Are Starting to Choose China Over U.S.

    In March, the Chinese search engine company Baidu set out on its first overseas college recruitment tour, which included visits to some of California’s top-tier tech schools like UC Berkeley, Stanford, and USC.

  • 【CGTN】The Center for China and Globalization 10 years on

    The Center for China and Globalization (CCG) – one of China’s top independent think tanks and around the world – celebrated its 10-year anniversary in Beijing on Saturday. It was ranked in the top 100 of its kind worldwide by the “2017 Global Go To Think Tank Index.” It’s also the first Chinese research organization to appear on this prestigious list.

  • China Daily Cover Story: Digital Eminence

    China’s digital economy is now bigger than the entire economies of the United Kingdom, France or Italy and more than eight times that of Africa’s largest economy, Nigeria. The impression of the scale of cyberspace in the world’s second-largest economy was what many took away from the 4th World Internet Conference in Wuzhen, Zhejiang province.

  • South China Morning Post | China’s “golden ticket” to international leadership in biotech

    “If a guy becomes a Thousand Talent, there are cases where that guy is getting multiple local benefits – local incentives, local grants,” said Director of the Centre for China & Globalisation (CCG), Wang Huiyao, in his correspondence with the South China Morning Post.