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Heads of State of China and the US Jointly Attend the Closing Ceremony of US-China Business Exchange

On November 9, 2017, President Xi Jinping and President Donald Trump of the US, who was paying a state visit to China, jointly attended and addressed the closing ceremony of US-China Business Exchange at the Great Hall of the People. Wang Yang attended the ceremony.

Xi Jinping pointed out that this year marks the 45th anniversary of the Shanghai Communiqué issued by China and the US. Over the past 45 years, China-US economic and trade relations have achieved historic development, which greatly benefits the two peoples. Facts have proved that China-US economic and trade cooperation carries huge potential and can deliver mutual benefit and win-win results.

Xi Jinping shared three of his views on China's economic situation and China-US economic and trade relations. Xi Jinping noted that the long-term growth of China's economy enjoys promising prospects. At present, China's economy has shifted from a high-speed growth phase to a high-quality development one. China's economic structure is continuously optimized. A sustainable growth of China's economic has the foundation, conditions and impetus. Since the beginning of this year, the International Monetary Fund has raised its predicted value for China's economic growth for a number of times this year, casting a vote of confidence in China's economic outlook.

Xi Jinping expressed that the prospect of China's adherence to reform and opening up is clear. China's development can only be achieved through reform and opening up. We will deepen supply-side structural reform and intensively launch forceful and practical reform plans in such areas as market, finance and tax, finance, investment and financing, and state-owned enterprises. We will continue to follow the path of comprehensively deepening reform. Opening up is a basic state policy of China. China will not close its door to the world, but will only become more and more open. We will follow the strategic deployment mapped out at the 19th National Congress of the Communist Party of China, and push forward the establishment of a new pattern featuring all-round opening up. Foreign-funded enterprises, including US enterprises, will also enjoy a more open, transparent and regulated business environment in China.

Xi Jinping noted that the expansion of China-US economic and trade cooperation enjoys enormous prospects. As the largest developing country and the largest developed country, the economic complementarity between China and the US far outweighs the competition. There is immense room for China-US economic and trade cooperation. We are willing to actively increase our import of energy and agricultural products from the US and deepen cooperation in service and trade. We also hope that the US side will increase export of civil technology products to China. We will continue to encourage Chinese enterprises to actively invest in the US, and also welcome US companies and financial institutions to actively participate in relevant cooperation projects of the "Belt and Road".

Xi Jinping stressed that with the rapid growth of China-US economic and trade cooperation, and there will inevitably be some frictions between the two countries. Both sides should, in the spirit of equality and mutual benefit, mutual understanding and mutual accommodation, properly handle those frictions through dialogue and negotiation.

Xi Jinping applauded the business communities of China and the US for their long-term dedication to the friendship between the two countries. They are key players driving the development of China-US economic and trade cooperation and bilateral relations. Xi Jinping indicated that Chinese ancestors once said, "Parties involved in trade can have their needs met and obtain more benefits". It is believed that under joint efforts of the entrepreneurs and business communities of the two countries, China-US economic and trade cooperation, on the basis of equality and mutual benefit, will certainly continue to write more successful stories, allowing the two peoples to obtain more benefits from this.

Donald Trump expressed that the US and China are very close partners and have broad consensus in such fields as economy and security. The expansion of US-China cooperation is conducive to the development of both countries. The US side is willing to work with China to continuously strengthen mutually beneficial cooperation in economy and trade, enhance cooperation in fields like energy, so as to promote common prosperity and properly address problems emerged in bilateral economic and trade relations. The business communities of the US and China serve as an important bridge connecting the two countries, continuing to play an active role in promoting US-China cooperation.

Ding Xuexiang, Liu He, Yang Jiechi, Secretary of State Rex Tillerson of the US, and about 50 representatives from the business communities of China and the US were present.

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