Photo: MOFCOM

The essence of China-US economic and trade relations is mutually beneficial and win-win. A stable, healthy, and sustainable trade relationship between the two countries serves their fundamental interests and benefits global businesses, a senior Chinese official said on Tuesday.

China International Trade Representative and Vice Minister of Commerce Wang Shouwen made the remarks during a meeting with Ramon Laguarta, CEO of US food and beverage giant PepsiCo in Beijing at the invitation of the company, according to a statement on the Ministry of Commerce (MOFCOM) website.

China's Government Work Report has set the economic growth target of around 5 percent for 2025, and the Chinese government is fully confident in achieving this goal, Wang stated. He noted that China's policies to expand domestic demand and boost consumption will bring more opportunities for foreign companies including PepsiCo, according to the MOFCOM.

Wang also reiterated China's position on the US' unilateral tariffs on imports from China and other related trade issues, the statement said.

Laguarta noted that PepsiCo's food and beverage business in China has experienced rapid growth, driven by China's pro-consumption policies. He said PepsiCo will increase investment in China.

As a member in the US business community, PepsiCo is committed to playing a constructive role for the healthy and stable development of US-China relations, Laguarta said, according to the statement.

Global Times