Board members from the US-China Business Council just concluded their meetings with senior Chinese government officials and business leaders to promote American market access in China and improve US-China commercial relations
BEIJING, October 11, 2018 – The US-China Business Council (USCBC) concluded today its annual board delegation to China, where delegates met with Chinese government officials, company CEOs, and top academics to discuss the bilateral trade relationship between the two countries. Delegates stressed that the slow pace of reform implementation is undermining confidence and leaving the American business community uncertain about policy direction. The group also delivered recommendations for de-escalating tensions and arriving at results-oriented reforms in China that would lead to significant and commercially meaningful opportunities for both countries.
The visit included meetings with senior Chinese government officials. In addition, USCBC board delegation members and accompanying executives shared a dialogue, hosted by the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC), with CEOs of Chinese companies.
“US business wants a constructive US-China relationship – we are advocating for a practical, results-oriented dialogue that addresses structural issues,” said Evan Greenberg, USCBC Board Chairman and CEO of Chubb. “We don’t support tariffs – they are counterproductive. We do support efforts to defend our economic interests. In my judgment, China should take the necessary steps now to implement their long-stated reforms. They are in China’s own interest and would go a way toward stabilizing the current environment. If done comprehensively, private sector confidence would be lifted and those advocating for a constructive path forward would begin to gain greater support.”
“While USCBC directors agree that the systemic challenges in China raised by the Trump administration must be addressed urgently in order to resolve long-standing concerns and improve the business environment, USCBC opposes the unilateral imposition of tariffs,” said Craig Allen, USCBC President. “We urge both governments to re-engage in a results-oriented dialogue that paves the way for commercially meaningful outcomes. Developing a more sustainable economic relationship is in the interest of both countries.”
China is a vital market to US companies, representing $600 billion in goods and services. Recognizing it as the most important bilateral relationship in the world, US companies at the CEO Dialogue agreed that they desire a healthy, productive accord with their counterparts in China.