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Ministry of Commerce: China intends to strengthen trade and economic ties with the United States

North America / Asia

RMB-denominated bilateral trade between the United States and China grew by 8.8% in 2020.

Ministry of Commerce: China intends to strengthen trade and economic ties with the United States

China intends to strengthen ties with the United States in the trade and economic field and pursue cooperation based on mutual respect, equality and mutual benefit, Chinese Minister of Commerce Wang Wentao said at a press conference on Wednesday.

"I look forward to making joint efforts with our American counterparts to enhance communication, deepen mutual understanding, focus on cooperation and resolve differences to facilitate the return of bilateral trade and economic relations to cooperation in line with the spirit of the telephone conversation conducted by the leaders of the two states." , he said.

Wang Wentao stressed that China has always believed and continues to believe that the essence of Sino-US trade and economic relations is mutual benefit and common gain. Cooperation is the only correct choice, since the interests of both parties are deeply integrated, he added.

Despite the global trade downturn due to the COVID-19 pandemic, trade between China and the United States has reversed this trend. According to customs data, in 2020, bilateral trade turnover denominated in yuan increased by 8.8%.

According to Wang Wentao, China is the United States' largest trading partner, and trade and investment cooperation has contributed positively to economic recovery on both sides.

"This fully demonstrates that trade and economic cooperation is a force that actively promotes interstate relations and brings tangible benefits to both parties," he added.

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