China US Photo: VCG

A veteran Chinese diplomat and a US business representative called for stable China-US relations on Friday. 

China and the US should try to be "stable competitors" and should cooperate, Fu Ying, former vice foreign minister, said at the China Development Forum on Friday. 

She said that the US could do more positive things instead of pointing fingers and playing the blame game with China. 

In areas related to the economy, technology, politics, security and global affairs, Fu said the two countries should seek dialogue and cooperation. 

At the same forum, Craig Allen, president of the US-China Business Council, also called for "stable, consistent policy" from the US side. 

"The business community hopes for stable, consistent policy in the 70-plus days until the new administration is sworn in," Allen noted, adding that there may be increased tensions in strategic issues between China and the US, citing the latest US executive order restricting American investments in 31 Chinese companies. 

"We encourage both sides to maintain calm and stability and avoid undermining business confidence in this transition period as we all prepare for a new administration to take office," he said. 

Calling for patience and time for US-China policy under Joe Biden, Allen said the business community is already advocating a policy that quickly addresses the commercial concerns while building a more sustainable and long-term relationship. 

"We have said for many years that the business community takes a long-term view of the relationship, so that means that we look beyond current challenges. Our companies value our employees and customers in China," Allen underscored. 

On the same day, former Chinese finance minister Lou Jiwei said the trade frictions between the US and China may not ease in the near term, even under a Biden administration, Reuters reported. 

"Even if Biden is elected, the US suppression of China will be inevitable," Lou said at the Caixin Summit in Beijing.

He called for pragmatism in bilateral trade relations, adding that it is hard for Washington to cut its trade deficit due to the greenback's position as the dominant global currency.