Minister Xu Xueyuan Holds Discussion with Youth Presidents' Organization Members on China-U.S. Relations and Economic and Trade Issues

On December 6, Minister Xu Xueyuan held discussion with around 30 members of Youth Presidents’ Organization (YPO) headed by Mr. Robert Power, President of YPO “Doing Business with China Network”, at the Chinese Embassy.

Minister Xu briefed the guests about the latest development of the China-U.S. relationship, pointing out that it is one of the most important bilateral relationships in the world and that a sound, stable relationship serves the fundamental interests of both countries and the two peoples. Recently, President Xi Jinping and President Donald Trump held a very successful meeting in Argentina. They had an in-depth exchange of views on China-U.S. relations and international and regional issues of mutual interest in a friendly and candid atmosphere and reached important consensus. The two sides agreed to expand cooperation based on reciprocity and mutual benefit and manage differences based on mutual respect so as to jointly advance China-U.S. relations centered on coordination, cooperation and stability.

Regarding economic and trade issues, the two sides agreed to stop imposing new tariffs, and instructed their economic teams to step up negotiations toward the removal of all additional tariffs and reach a concrete and win-win agreement. The meeting charted the course of China-U.S. relations for the next stage. The Chinese side is ready to work with the U.S. side to meet each other half way and implement the agreement reached by the two heads of state. In particular, the two sides need to follow the principles of mutual respect, equality, mutual benefit and accommodating each other's concerns, and engage in consultations on economic and trade issues, so as to bring their economic and trade relations back on the right track and realize win-win cooperation.

Minister Xu outlined China’s economic development and its policies and measures on comprehensively deepening reform and further opening-up, stressing that continued development of China will provide more business opportunities for other countries, including U.S. It is hoped that U.S. businessmen have a full and correct understanding of China’s policies and measures and conduct more mutually-beneficial cooperation with China. In the meantime, the American business community is encouraged to bridge our two countries and help the U.S. government and various social sectors to realize that our economic and trade relations are mutually-beneficial in nature and that it is important to take an objective and fair view and support the development of China-U.S. relations.

Chairman Power said, China is a country of great significance. After the outbreak of the international financial crisis in 2008, China took proactive measures, which not only stabilized its own economy, but also made great contributions to the global economic recovery. The companies our members lead have long-time business ties with China and we have keenly felt the negative impact brought by tariffs. The difficulties for the bilateral relations on the economic and trade fronts are temporary, necessary adjustments, which would be eventually resolved with concerted efforts. We believe in the bright future of the Chinese economy and have full confidence in the U.S.-China relations in the long run.

Presided by Minister Xu, diplomats of the Chinese Embassy held candid, thorough discussion with YPO members on issues including the direction of China-U.S. economic and trade relationship, the two countries’ domestic industrial and investment policies and how to do business in the other country.

Founded in 1950 in New York, YPO is one of the largest networks of business connections dedicated to cultivating better business leaders through education and exchange of ideas. It now has more than 26,000 members in over 130 countries and regions. More than 1,000 members of YPO who have either business ties with or investment in China set up “Doing Business with China Network”.


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