New Chinese Ambassador to the US Qin Gang (front center) arrives in the US on July 28, 2021. He is wearing a face mask with a Chinese national flag. Photo: Courtesy of the Chinese Embassy in the US

Economic and trade cooperation has always been a stabilizer and propeller of China-US relations, which are currently undergoing a new round of adjustments, China's ambassador to the US Qin Gang said, meanwhile emphasizing that China welcomes US companies to increase their investment in the country.

Qin made the remarks during the 2021 annal gala of China General Chamber of Commerce - Chicago (CGCC-Chicago), held on Tuesday (US time).

The economic structures of China and the US are broadly complementary, and their interests are deeply integrated. Whether it is to meet the challenges brought about by the current disruption of global industrial and supply chains, or to promote the recovery of global economy from the fallout of the COVID-19 pandemic, the two countries need to coordinate and cooperate and work together, Qin said.

The Chinese ambassador hoped that economic and trade cooperation will become a lubricant and stabilizer for normal China-US relations.

China, as always, welcomes US companies to increase investment in China, and will continue to expand opening-up, to create a market-oriented and internationalized business environment, the ambassador said.

China and the US have agreed to ramp up bilateral trade talks in the coming days. Chinese Vice Premier Liu He held a video conversation with US Treasury Secretary Janet Yellen on Tuesday and they agreed to increase economic dialogue.

The two sides conducted practical, candid, and constructive exchanges on macroeconomic situation and bilateral and multilateral cooperation, agreeing that as the global economic recovery is now at a critical juncture, it is important for both countries to strengthen macro policy communication and coordination.

Liu and US Trade Representative (USTR) Katherine Tai held video talks over trade on October 9.

China-US trade volume grew 35.4 percent from January to September in dollar terms from last year, reaching $543.12 billion, according to latest Chinese customs data.

Global Times