China-US Photo: VCG

The chairman of the China Council for the Promotion of International Trade (CCPIT) Ren Hongbin on Wednesday (local time) met with Craig Allen, president of the US-China Business Council (USCBC), in Washington during a roundtable on promoting exchanges between the two countries' business communities, the CCPIT said on Thursday. 

The roundtable was one of the events held during a week-long visit by the Chinese business delegation to the US, following a US business delegation visiting China that ended on July 23, on the heels of the recently concluded third plenum of the 20th Communist Party of China Central Committee.

Ren said that the third plenum emphasized that China should develop new institutions for a higher-standard open economy, which will provide rare historical opportunities for deepening exchanges and cooperation between the business communities of China and the US, and achieving win-win cooperation.

Ren expressed hope that the two councils can enhance exchanges and make efforts to promote bilateral business relations.

Allen was thankful for the CCPIT's and Chinese business' efforts in meeting foreign companies' operating demand in China. He said he is looking forward to more measures to implement the guideline of the third plenum and the policies boosting domestic demand in China.

The event brought together a Chinese business delegation consisting of multiple entrepreneurs and executives from 11 top 500 US-based companies, according to the CCPIT.

Representatives from the US business community expressed optimism about the positive signal of China's broader opening-up. They hoped that US companies could participate in China's modernization drive and achieve win-win cooperation, adding that the China International Supply Chain Expo offers a platform for productive communication between enterprises from the two countries. 

Invited by the CCPIT, a US business delegation led by Raj Subramaniam, board chair of the US-China Business Council, arrived in Beijing on July 22, comprising top executives from US-based multinational companies, including Micron, Goldman Sachs, Apple and Boeing.

Global Times