Chinese business delegation to visit U.S. for enhanced economic, trade collaboration

BEIJING, July 26 (Xinhua) -- At the invitation of the U.S. Chamber of Commerce and the U.S.-China Business Council (USCBC), a Chinese business delegation will visit the United States to share China's new initiatives in reform and opening up with the U.S. business community in a bid to consolidate economic and trade cooperation.

Led by Ren Hongbin, head of the China Council for the Promotion of International Trade (CCPIT), this delegation is the first group of business representatives to visit the United States following the third plenary session of the 20th Communist Party of China (CPC) Central Committee held last week in Beijing, CCPIT spokesperson Wang Linjie told a press conference on Friday.

The business delegation will "convey a series of significant new initiatives for opening up" determined at the key CPC session to the American business community, Wang said, noting that they are also looking forward to hearing the responses and requests from their U.S. counterpart.

The delegation comprising representatives from local councils for the promotion of international trade across the country as well as state-owned and private enterprises will visit the United States from July 27 to Aug. 1, according to the CCPIT.

"Together, we will strive to achieve more practical outcomes in economic and trade cooperation, and promote the continuous, stable and healthy development of China-U.S. relations," the CCPIT spokesperson said.

The visit is a reciprocal move in response to a visit paid by a delegation from the USCBC to China earlier this week, according to the spokesperson.

The USCBC delegation, the first of its kind from the United States after the policy-planning meeting, came at the right time and could get first-hand knowledge of China's new reform dynamics, Chinese Foreign Minister Wang Yi noted when meeting the delegation on Monday.

Foreign minister Wang listened carefully to the speeches of the U.S. representatives and responded to their concerns one by one.

Calling the China-U.S. relationship one of the most important bilateral relationships in the world, Wang said whether the two countries choose to cooperate or confront each other will bear on the well-being of their people and the future and destiny of humankind.

He emphasized the stability and continuity in China's policy toward the United States as well as China's commitment to strengthening dialogue, managing differences and expanding cooperation with the latter to stabilize, improve and advance bilateral ties.

During their visit, the delegation also met with Chinese Vice Premier He Lifeng and representatives from several government bodies, such as the National Development and Reform Commission and the Ministry of Commerce, as well as the CCPIT.

When meeting with the delegation, Wang Wentao, Chinese Minister of Commerce, introduced the CPC session's systematic arrangements for further deepening comprehensive reforms and promoting modernization with Chinese characteristics.

Opening up is a distinctive feature of modernization with Chinese characteristics, Wang Wentao noted, adding that China will adhere to its fundamental national policy of opening up, use opening up to drive reforms and build a new, higher-level system of an open economy.

The commerce minister also vowed to do the "subtraction" to facilitate foreign investment access and the "addition" to optimize the business environment, welcoming international enterprises to continue to delve deeply into the Chinese market and share the opportunities for development.

In response to the commerce minister's remarks, Raj Subramaniam, board chair of the USCBC, said that China has sent a positive signal to the world about further deepening reforms and expanding opening up, and strengthened market confidence.

He noted that economic and trade cooperation is a stabilizing force in the relationship between the two countries. The USCBC and its member companies support the expansion of economic and trade cooperation between the two nations and will continue to commit to long-term development in China, Subramaniam said.

According to a report released on Friday by the CCPIT, in the second quarter of this year, more than 40 percent of surveyed foreign-funded enterprises said that the attractiveness of the Chinese market has increased in terms of future investment confidence.

Among them, "U.S. enterprises are the most optimistic about the Chinese market," with more than 40 percent of American companies viewing the market outlook for China positively and noting an increase in its attractiveness.

"The report indicates that despite the changing international landscape, China remains a sought-after destination for global investment," the CCPIT spokesperson said.