Between September 14 and 15, local time, He Lifeng, China's lead representative for China-US economic and trade talks and Vice Premier of the State Council, met in Madrid with US officials Janet Yellen, the Treasury Secretary, and Katherine Tai, the US Trade Representative. Building on the important agreements made during phone calls between the leaders, they had open and honest discussions about shared economic and trade issues. They also agreed on a basic framework to work together on TikTok-related concerns, lower investment barriers, and boost cooperation in trade and economics.
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He Lifeng emphasized that China is firmly committed to defending its rights and interests. The country will strongly protect its own interests and support Chinese companies operating abroad. About TikTok, China plans to review technology exports in line with existing laws and regulations. At the same time, the Chinese government respects the wishes of Chinese businesses overseas and encourages them to negotiate with partners on fair terms based on market rules.
He Lifeng emphasized that China and the US should see their economic and trade relationship as a two-way street where both sides gain. There’s plenty of room for cooperation, and working together benefits everyone. On the other hand, conflicts only cause harm to both countries. He hopes the US will move in the same direction as China—lifting restrictions against China as soon as possible—and take real steps to protect the progress made in ongoing talks. This would help build a positive environment for steady and lasting growth in China-US economic and trade ties.
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Both sides agree that stable economic and trade relations between China and the U.S. are really important for both countries and also play a big role in keeping the global economy steady and growing. They plan to keep working on the big agreements made during their phone calls and the progress from previous talks. They want to make good use of the China-U.S. economic and trade consultation mechanism to build more understanding, work through disagreements, and boost cooperation. Their goal is to create more wins for both sides, support healthy and steady growth in their economic ties, and help bring more stability to the world economy.
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Huo Jianguo emphasized that the core of China-U.S. economic and trade relationships is about mutual benefit and creating win-win situations. He said that both sides should approach talks with respect and equality. During this round of discussions, China stuck to its usual principles, opposing the U.S. with politicized, instrumental, or weaponized use of technology, economy, and trade issues. China is also determined to protect its national interests and the legitimate rights of Chinese companies. Both countries need to put in more effort to make progress. Specifically, the U.S. should show genuine sincerity, stop unfairly pressuring China, and work together to uphold global trade rules and ensure the stability of world supply chains. Doing so will help boost confidence and support continued growth and stability for the global economy.
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