On December 6, USCBC member company leaders held a virtual meeting with Chinese State Councilor and Foreign Minister Wang Yi to discuss China’s perspectives on the bilateral relationship. Wang laid out recommendations for improving US-China relations moving forward and discussed the Phase One trade agreement, China’s new development paradigm of Dual Circulation, and facilitating essential business travel between the two countries.
Regarding the Phase One trade agreement, Wang reconfirmed that China would meet its commitment to purchase additional US goods including agricultural, manufactured, and energy products by the end of 2021.
USCBC President Craig Allen said the discussion was free-ranging and candid, lasting about an hour and 40 minutes. “We got the sense that the Chinese wish to improve relations,” he said. “We emphasized the importance of making good on previous commitments, which will pave the way for a second phase of negotiations to cover thornier trade issues such as subsidies for state-owned enterprises and opening additional domestic sectors to US companies.”
Image courtesy of the Ministry of Foreign Affairs