President Hu Jintao Addresses the Luncheon Hosted by U.S. Friendship Associations

Chinese President Hu Jintao speaks during a luncheon hosted by the Washington State, the Seattle business community and local organizations in Seattle of US, April 19, 2006. (Photo: Xinhua)

Chinese President Hu Jintao speaks during a luncheon hosted by the Washington State, the Seattle business community and local organizations in Seattle of US, April 19, 2006. (Photo: Xinhua)

Chinese President Hu Jintao (R) speaks during a luncheon hosted by the Washington State, the Seattle business community and local organizations in Seattle of US, April 19, 2006. (Photo: Xinhua)

On April 19, 2006, Chinese President Hu Jintao attended the luncheon hosted by the business community and friendship associations from the Washington State and Seattle at Boeing's Future of Flight museum, where he also delivered an important speech titled Deepening Mutually Beneficial Cooperation and Advancing Common Development.

Hu pointed out in his speech that in today's world, economic globalization continues to develop. Countries are more closely linked with each other and are interdependent upon each other. The interest of countries is inter-linked and countries are sharing a common destiny. We must look at what's around us with a broad global vision. We must focus more upon exchange and cooperation, mutual learning, mutual benefits, win-win results and common development.

Hu stressed that China and the U.S. are highly complementary economically. Both countries have extensive common interest and great potentials for cooperation. The fast growing economic and trade ties have brought about tangible benefits to the two peoples. Such ties have also stimulated our economic and trade exchange with other countries in the Asian-Pacific region, boosted the economic development and cooperation in the Asian-Pacific region and driven the growth of global economy. The facts prove that the economic and trade cooperation is an important pillar for the growth of China-U.S. ties. Strengthening the bilateral economic and trade cooperation is in the fundamental interest of both countries and peoples and of great significance to advancing and stabilizing China-U.S. relationship.

Hu noted that the economic and trade cooperation between China and the U.S. is featured by fast growth, large scale and wide-ranging areas. It's hard to avoid some disagreements in this process. The mutually beneficial cooperation and common development are still the mainstream of the economic and trade relationship between the two countries. We agreed to resolve the occurred problems through fair consultations and negotiations and by expanding mutually beneficial cooperation.

Hu emphasized that China adheres to the policy of expanding domestic demands and takes it as the basic pillar for promoting the economic and social progress. China will further expand the access of U.S. services and products to the Chinese market. Meanwhile, China hopes that the U.S. could take active action on relaxing its exports restriction against China and reducing trade protective measures in a bid to promote the export of its products to China and resolve the trade imbalance faster and better.

Hu stressed that IPR protection is an issue of common interest to all countries. It is also necessary for the reform and opening up, the improvement of investment environment and the enhancement of indigenous innovation abilities of China. China will continue to improve the legal systems to protect IPR, enhance law enforcement, combat all behaviors infringing IPR, and protect the legitimate rights and interest of the IPR owners in China by law.

Hu highlighted that China always decides on the foreign exchange rate mechanism with a highly accountable attitude and proceeding from the reality of China's economic and social development as well as the economic and financial stability of the region and the world. China will unswervingly advance the financial reform, improve RMB exchange rate formation mechanism, and maintain the stability of RMB exchange rate at a reasonable and balanced level.

Hu also pointed out that with the continuous development of China's economy, the demands for energy also increase. In terms of energy supplies, we will mainly depend upon our own, pay attention to both energy development and saving, and prioritize the improvement of energy utilization efficiency. We will follow international rules to conduct mutually beneficial cooperation with other countries including the U.S. in the field of energy and jointly safeguard the order of global energy market.

While answering the question on further deepening China-U.S. economic and trade cooperation and promoting the comprehensive development of China-U.S. constructive and cooperative relationship, Hu proposed that both sides make concerted efforts to promote the economic development and prosperity of the Asian-Pacific region and the world, that both sides strengthen coordination to safeguard international free trade system, that both sides find innovative ways of thinking to expand bilateral cooperation, that both sides strengthen guidance to support the businesses of both countries in expanding cooperation, and that both sides improve mechanisms to properly handle problems occurring in the process of bilateral cooperation. (The full text of Hu's speech will be published separately.)

Hu's remarks were strongly echoed by the friends from all communities, who applauded for long.

The luncheon was hosted by Gary Locke, former governor of the Washington State. There were over 600 friends from both sides attending the luncheon including Christine Gregoire, Governor of the Washington State, Bill Gates, Chairman of Microsoft, and Alan Mulally, CEO of Boeing Commercial Airplanes (BCA).

Gregoire said in this address that the Washington State feels greatly honored to be the first stop pf President Hu's visit to the U.S. and the Washington State looks forward to strengthening the cooperation with China in all areas.

Gates said in his address that an open and prosperous China benefits not only China and the U.S. and but also the whole world. He was confident that President Hu's visit will undoubtedly enhance the mutual understanding of both sides and promote exchanges of trade, culture and personnel.

State Councilor Tang Jiaxuan was also present at the luncheon.


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