CEOs Underscore the Importance of the Chinese-US Bilateral Relationship

Chinese and American senior business leaders meet to foster and expand collaborations that create value for both sides

BEIJING, October 11, 2018 -- The US-China Business Council (USCBC) and the China Council for the Promotion of International Trade (CCPIT), along with the China Chamber of International Commerce (CCOIC) today co-hosted a CEO Dialogue between senior Chinese and American leaders in Beijing. CCOIC Vice Chairman Tu Guangshao and USCBC Board Chair Evan Greenberg co-chaired the dialogue. 

“As the two largest economies and the most important bilateral relationship in the world, the United States and China have benefited enormously from trade and investment ties,” said Evan Greenberg, USCBC Board Chair and CEO of CHUBB.

“Unfortunately, current tensions are impacting the commercial environment for companies in both countries. Business leaders have an interest in seeing the concerns about bilateral trade and investment addressed in order to establish a fair, balanced, and sustainable economic relationship. China is a very important market for US companies, representing $600 billion in goods and services, and it should only grow in importance. US companies desire a productive relationship with their counterparts in China, who equally rely on both access to the US market and American enterprises to serve their domestic market.”

“International trends are currently undergoing profound and complex changes,” said Tu Guangshao, CEO of China Investment Corporation (CIC), “while the global economy is still in the midst of a transformation. Sino-US commercial relations have always been the ballast and propeller of overall Sino-US relations, and economic cooperation between the two economies has brought the people of both nations real benefit. In the commercial sphere, cooperation brings benefit, while conflict brings harm.

“The current bilateral economic relationship between the US and China is facing unprecedented challenges. China has persistently advocated for dialogue and cooperative measures to resolve bilateral trade disagreements. CCPIT, CCOIC, and USCBC, through this US-China CEO Roundtable, are providing a pragmatic and long-term platform for dialogue and communication that will better promote Sino-US commercial cooperative relations and healthy development.” 

Discussion topics included:

  • The current economic and policy environment in both countries;
  • CEO views of bilateral investment, the trade relationship, and challenges faced by both countries;
  • Global economic trends and their implication for industrial development;
  • The role of business leaders in maintaining mutually beneficial relations; and
  • What the business community can do to help both sides overcome challenges to keep business growing during an uncertain bilateral relationship.

During the discussion, Chinese and American attendees reaffirmed that both sides must continue to work together in promoting commercial cooperation and opposing protectionist trade and investment policies.

Chinese Participants:
Tu Guangshao Vice Chairman and President, China Investment Corporation; Miao Jianmin Chairman, the People's Insurance Company (Group) of China Limited; Liu Liange President, Bank of China; Ge Huayong Chairman, China UnionPay Co., Ltd.; Guo Guangchang Chairman, Fosun International; Zhou Zixue Chairman of the Board, Semiconductor Manufacturing International Corporation; Cheng Gong General Manager, China International Intellectech Co., Ltd.; Hou Qijun Vice President, China National Petroleum Corporation; Wu Meng Director General of Bilateral Cooperation Department, CCOIC.

US Participants:
Evan Greenberg, USCBC Chair and Delegation Leader, Chairman and Chief Executive Officer, Chubb; Craig Allen, President, The US-China Business Council; Joshua Bolten, USCBC invited guest, President & CEO, Business Roundtable; Doug McMillon, USCBC Vice Chair, President and Chief Executive Officer, Walmart, Inc.; Mary T. Barra, USCBC Vice Chair, Chairman and Chief Executive Officer, General Motors Company; David T. Seaton, Chairman & Chief Executive Officer, Fluor Corporation; Gary E. Dickerson, President and Chief Executive Officer, Applied Materials, Inc.; Robert Lipson, Founder, Chief Executive Officer, United Family Healthcare; Ryan McInerney, President, Visa Inc.; Keith Williams, President and Chief Executive Officer, UL LLC; Jacob Parker, Vice President, China Operations, The US-China Business Council.