Chinese Premier Li Keqiang meets the press via video link after the closing of the fifth session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 11, 2022.(Photo: Xinhua)

 
With door between China and the US being opened 50 years ago, it should not be shut again or pushed toward decoupling, and cooperation between the two countries carries significance for both and the wider world, Chinese Premier Li Keqiang said on Friday morning, adding that competition between the two economies in economic and trade areas should be "benign and fair."

Li made the comment at a press briefing in Beijing after the closing of the fifth session of the 13th National People's Congress. Li referred to the ice-breaking visit of then-US president Richard Nixon in 1972, which opened the door for the normalization of bilateral relations. 

"China-US relations have been advancing forward despite some bumps since then, and we hope the two sides could properly settle disputes based on the principles of mutual respect, peaceful coexistence and win-win, and respect each other's core interests and major concerns based on the consensus reached by both countries' leaders last year," Li said, noting that China and the US need more dialogue and communication. 

China US File Photo:CFP

China and the US are both UN security council permanent members and the biggest developing and developed nations, respectively, so addressing bilateral relations matters to the benefits of two countries, and plenty of global challenges also call for the two economies to cooperate and jointly cope with, according to Li. 

Li said it is unavoidable for China and the US to have disputes but cooperation should be the mainstream. "Even if there is market competition between the two in economy and trade, it should be healthy and fair," Li noted.

He said if the US eases export controls on China, bilateral trade would expand further. Last year, bilateral trade exceeded $750 billion, up 30 percent year-on-year, showing the extensive areas and much untapped potential in bilateral cooperation.

The US announced on Thursday a provisional waitlist of five Chinese firms that may be removed from US exchanges, which sent shares of the five firms as well as other Chinese companies listed in the US, the biggest drop since 2008. China's securities regulator on late Thursday night voiced strong opposition to the moves of politicizing financial regulation. 

Global Times