Development of China, U.S. should become each other's opportunities: minister

BEIJING, Oct. 10 (Xinhua) -- The development and progress of China and the United States should become each other's opportunities rather than challenges, China's Minister of Commerce Wang Wentao said Monday.

Wang made the remarks when meeting with a bipartisan delegation of the U.S. Senate led by Majority Leader Chuck Schumer, according to a statement released by the Ministry of Commerce on Tuesday.

The complementarity of the two economies far outweighs their competition, and the bilateral economic and trade relations are mutually beneficial in nature, Wang said, noting that cooperation is the only right choice for the two countries.

During the meeting, the two sides held rational and pragmatic discussions on China-U.S. economic and trade relations and issues of common concern.

China does not evade competition, but maintains that competition should be fair and healthy and be based on international economic and trade rules, Wang said, calling on the U.S. side to accurately define security boundaries and avoid overstretching the concept of security and politicizing and instrumentalizing related issues.

Upholding the principles of mutual respect, peaceful coexistence and win-win cooperation, China is ready to work with the United States to create a sound environment for business cooperation and promote bilateral trade and investment, Wang said.

The minister also expressed concerns over issues including U.S. export controls and investment restrictions on China, sanctions on Chinese companies, restrictions on bilateral personnel exchanges, and treatment of Chinese companies investing in the United States.

During the meeting, Schumer said U.S.-China economic and trade relations are crucial to the two countries.

The two parties of the U.S. Congress attach importance to economic and trade relations with China, do not seek to decouple with China, and are willing to strengthen communication and exchanges, Schumer said.