Qin Gang Photo: website of China's embassy in the US

Chinese ambassador to the US Qin Gang reiterated hopes that the US will create necessary conditions in implementing the phase one trade agreement and promote bilateral economic and trade exchanges, rather than making things worse.

Qin attended a virtual welcome event hosted by the US-China Business Council (USCBC) in Washington on Monday, according to the official website of Chinese Embassy in US.

Qin noted that China has been faithfully implementing the phase one agreement despite the pandemic and has made marked progress in enhancing intellectual property rights (IPR) protection and expanding market access of agricultural products and the financial sector, while reducing tariffs on imports from the US to facilitate bilateral trade.

However, the US has continued to impose trade sanctions and supply restrictions on China, including placing more than 900 Chinese entities on various lists of restrictions, which has a negative impact on the implementation of the agreement and affected Chinese companies' ability and willingness to purchase from the US.

"Neither Section 301 investigations nor tariff war has ever worked," said Qin, in response to recent media reports saying the Biden administration is considering launching a new Section 301 investigation into government subsidies received by Chinese companies. 

"It is hoped that necessary conditions and atmosphere can be created for the implementation of the phase one agreement and bilateral economic and trade exchanges, rather than making things worse," Qin emphasized. 

China-US trade volume grew 36.6 percent from January to August from the same period last year, official data from Chinese customs showed. 

Qin stressed that China will continue to welcome American companies to explore the Chinese market, adding that the difficulties and uncertainties in China-US trade and business cooperation are not being created by the Chinese side. 

"I hope that the US side will meet with China halfway, follow the principles of mutual respect, equality and mutual benefit, and make earnest efforts to improve China-US relations," Qin said. 

Qin indicated that China's high-quality development in the new era will provide a broader market to foreign investors including American businesses, and the country will continue to be the source of growth and hope for the global economic recovery in a post-pandemic world.

Qin also talked about his experience riding the rollercoaster at Universal Resort Beijing at the end of the July, saying that the ups and downs of the riding tracks reminded him of China-US relations over the past few years, and riding the rollercoaster was his final test before becoming Chinese ambassador to the US.

"After all the stressful ups and downs, churns and shakes, I made it through," said Qin, adding that he got on the flight to the US after the rollercoaster ride.

Global Times