The China Council for the Promotion of International Trade holds a press conference on August 30, 2024 in Beijing. Photo: Zhang Yiyi/GT

The China Council for the Promotion of International Trade (CCPIT) stated that China-US business communities remain key defenders and contributors to bilateral relations despite global challenges, and it is hoped to deepen cooperation with the US business community and strengthen its role as a stabilizing force in China-US relation.
Wang Linjie, spokesperson for the CCPIT, made the remarks on Friday, days after Ren Hongbin, chairman of CCPIT, recently led a Chinese business delegation to the US at the invitation of the US Chamber of Commerce and the US-China Business Council. 

Wang recalled that in 1975, when CCPIT led its first Chinese trade delegation to the US after the Shanghai Communique was signed, the visit had played a key role in normalizing relations between China and the US. 

The two visits, which were separated by nearly 50 years, have fully demonstrated that no matter how the international situation changes, the Chinese and American business communities have always been important contributors to the relations between the two countries, Wang said.

The CCPIT is willing to work with US counterparts and enterprises from the two countries to continue to deepen cooperation and firmly serve as a stabilizing force for bilateral relations, Wang added. 

Wang said that during the four-day visit, the Chinese delegation took part in close to 20 trade-focused events, from expansive forums to close discussions with executives from Fortune 500 companies. They engaged in candid dialogues with the US business and political leaders. 

Those delegates from the US business community said that they are optimistic about the Chinese market, and they said the two sides should meet more, communicate more, and cooperate more. They hope that relations between the two countries will stabilize, improve, and progress.

It is hoped that the US will actively promote trade and investment facilitation, reduce unnecessary restrictive measures on Chinese-funded enterprises, formulate a reasonable foreign investment review list, lower the entry threshold for Chinese-funded enterprises, and provide a fair, transparent, and non-discriminatory business environment for Chinese-invested enterprises in the US, Ren said during the visit. 

Wang highlighted that there is vast potential between the Chinese and American business communities, not only in bilateral fields, but also on multilateral issues, citing an example that the CCPIT and the US business leaders jointly proposed cooperation principles for Asia-Pacific supply chain cooperation at the third session of APEC Business Advisory Council (ABAC) 2024. 

The proposal, advocating for open collaboration and compliance with WTO rules to prevent trade distortions, was a highlight. It showcased strong opposition to supply chain decoupling and underscored robust multilateral cooperation between Chinese and American businesses, according to Wang.

"Despite attempts by some US politicians to undermine the relationship, China and the US remain each other's most vital trade partners. The undeniable economic complementarity between the two nations has forged a unique and unmatched partnership. This relationship is expected to grow stronger over time, even amid political disturbances," Bian Yongzu, executive deputy editor-in-chief of Modernization of Management magazine, told the Global Times on Friday.

"Even with political interference, trade exchanges, especially in major product categories, will not be significantly diminished," Bian added.