China US Photo: VCG

China and the US share common ground in advancing low-carbon development, and that cooperation in this area will not only serve each other's goal of cutting carbon emissions but also contribute to strengthening bilateral economic and trade cooperation, said a senior Chinese official on Wednesday.

Vice Minister of Commerce Wang Shouwen made the remarks in a keynote speech at the ongoing China International Fair for Investment and Trade held in Xiamen, East China's Fujian Province.

Wang pointed out that China is formulating a roadmap to achieve the goal of realizing a carbon emissions peak in 2030 and achieving carbon neutrality by 2060. Based on public announcements in the US, the Biden administration has announced its return to the Paris Agreement and set new greenhouse gas pollution reduction target.

In April, the two sides issued a joint statement addressing the climate crisis, saying that the two countries will continue to discuss concrete actions in the 2020s to reduce emissions.

China and the US will be unable to step up cooperation focused on green development and a low-carbon economy without healthy and stable bilateral trade ties, Wang said, noting that the nature of China-US economic and trade relations is mutually benefit and a win-win.

As two largest economies in the world, China and the US strengthening trade cooperation will not only benefit the two economies and two peoples but play a significant role in boosting world economic growth, Wang said. He reiterated that unilateralism and protectionism will not only harm the two countries' interests but also affect global economic recovery.

China-US relation is now at an important crossroads, Wang said. By giving into play the role of economic and trade relations as a cornerstone and stabilizer, the two sides should strengthen cooperation, manage differences and push China-US economic and trade relations back to normal track as early as possible in a bid to seek greater development on the basis of mutual benefit, he reiterated.