NEW YORK, July 30 -- The China-U.S. Economic and Trade Cooperation Forum was held in New York City on July 29, attracting over 300 guests from Chinese and American businesses and trade associations.
U.S. business people expressed their enthusiasm toward potential opportunities arising from strong commercial ties between the United States and China. A Chinese delegation led by the China Council for the Promotion of International Trade (CCPIT) is paying a week-long visit to the United States. The 50-person delegation will have extensive and in-depth exchanges with the U.S. Department of Commerce, the State of New York, the State of Maryland, the U.S. Chamber of Commerce, the U.S.-China Business Council, and other government departments and agencies, as well as with U.S. companies.
Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), emphasized at the forum that the economies of China and the United States are highly complementary and deeply intertwined. Strengthening supply chain cooperation between the two nations will help maintain global supply chain stability and foster economic growth for both countries and the world. CCPIT will continue to build more bridges for friendly exchanges between Chinese and American business communities and welcomes companies from both countries to utilize the China International Supply Chain Expo to jointly create a stable and smooth global supply chain.
"We look forward to achieving concrete outcomes and cultivating new growth drivers through such communication," Ren told about 300 business people from various industries from both countries at the China-U.S. Economic and Trade Cooperation Forum on Monday.
According to Ren, bilateral trade between the United States and China rose by 2.9 percent in the first half of 2024, and the number of U.S. companies announcing investment in China increased by over 20 percent. The amount of actual investment doubled in the period.
Consul General Huang Ping, remarked on the successful meeting between the U.S. and Chinese presidents in San Francisco last November, which helped stabilize and set a forward-looking direction for U.S.-China relations, referred to as the "San Francisco Vision." He welcomed American companies to leverage platforms like the Chain Expo to strengthen practical cooperation and inject robust momentum into the stable development of U.S.-China relations.
John Wang, Founder of the New York Center and President of the Asian American Business Development Center, emphasized the importance of U.S.-China cooperation and understanding in the face of significant global challenges and opportunities. He expressed hope that this forum would serve as a platform for the business communities of both countries to collaboratively address challenges, explore new avenues for cooperation, and work together to build a prosperous, sustainable, and inclusive future.
"We are encouraged by the current administration's efforts to resume bilateral dialogue and cooperation with China," said Declan Daly, chief operating officer with United States Council for International Business.
Daly said at the forum that it is time for the United States to re-engage with China on the issues of concern and the trade relationship to find negotiated solutions to long-standing disputes.
"Toward that end, we would welcome establishing a regular bilateral dialogue," added Daly.
Daly said there is no doubt about the importance of this enormous economic relationship between the United States and China to his members, which collectively have an annual revenue of over 5 trillion U.S. dollars and 11.5 million employees.
Peter Tichansky, president and CEO of the Business Council for International Understanding, said the United States and China align on issues like innovation, energy transition, artificial intelligence, chips and trade.
The second China International Supply Chain Expo(CISCE) will be held from November 26-30, 2024, in Beijing. The event will feature exhibition areas dedicated to advanced manufacturing, smart automobiles, green agriculture, clean energy, digital technology, healthy living, and supply chain services.