PRC Gov't Statements

Biden, Xi agree to continue high-level discussions; Blinken to take U.S. lead

President Biden and Chinese President Xi Jinping agreed to hold high-level exchanges, resuming some that were cut off after House Speaker Nancy Pelosi visited Taiwan in August, to address a range of bilateral issues, the White House said on Monday. Biden and Xi held their first in-person meeting on Monday on the sidelines of the G20 summit in Bali, Indonesia. The meeting lasted roughly three and a half hours. “President Biden underscored that the United States and China must work...

Xi’s post-Party Congress course moves steadily away from the U.S.

Chinese President Xi Jinping’s consolidation of power at last month’s 20th Party Congress likely solidified China’s economic and foreign policy approaches, with Beijing expected to double down on its more aggressive stances to the disdain of the U.S., analysts said on Wednesday. Xi last month secured a third term as secretary general of the Chinese Communist Party -- which broke with the traditional two-term limit -- and consolidated power by packing the Politburo, the CCP’s powerful decision-making body, with political...

China to U.S., EU: Don’t use TTC as a weapon

China is warning the U.S. and EU against using their Trade and Technology Council as a “weapon” after the trans-Atlantic forum’s second meeting concluded earlier this week. The TTC convened in France on Sunday and Monday, where officials touted progress on export controls, securing supply chains and standards-setting, among other areas. “Noticed TTC meeting held yesterday. China believes TTC should not become a weapon targeted at any third party,” Wang Lutong, the director-general of for European affairs in the Foreign...

Xi calls for open global services trade, increased cooperation

Chinese President Xi Jinping on Friday called for countries to lower market-access barriers to services trade and to come together to form a “global services alliance.” The United States has repeatedly criticized China for barriers to its services market. But Xi sought to paint China as a key driver to opening services trade. “Firstly, all countries should jointly foster an open and inclusive environment for cooperation,” Xi said, according to a summary of his remarks issued by the state-run media...

Chinese ambassador touts reforms ahead of phase-one signing

China’s ambassador to the U.S., Cui Tiankai, on Wednesday touted Chinese economic reforms and market openings while urging a calmer relationship between Washington and Beijing. His remarks came as the U.S. and China are preparing to sign a “phase-one” trade deal next week. China’s Ministry of Commerce on Thursday announced that Vice Premier Liu He would lead a delegation to Washington, DC, from Jan. 13-15 for the signing. “As you all know, China and the United States have concluded the...

China trumpets claims of WTO leadership in 2019

In a year-end look at its economic record published this week, China touted what it called its leadership at the World Trade Organization, including “deepened” participation in reform efforts and its commitment to the multilateral trading system. “The Ministry of Commerce has continuously deepened its participation in the WTO reform work … and comprehensively expounded China’s WTO reform ideas,” a Chinese Ministry of Commerce statement reads, according to an informal translation. “China has propagated China's stand for multilateralism and free...

China lowers tariffs on a range of products as USTR extends exemptions

Beijing last week announced it would reduce tariffs on a range of products below its most-favored nation levels as the Office of the U.S. Trade Representative announced the extension of exemptions to some Section 301 tariffs on Chinese goods for another year. China’s tariff cuts to more than 850 types of goods will apply to all of its trading partners and include pork, frozen avocados, aircraft autopilot parts and fertilized fish eggs, according to state-run Chinese media. The new tariffs...

China announces elimination of foreign ownership restrictions in financial services

China will eliminate foreign ownership requirements in the financial services sector, the Chinese Securities Regulatory Commission announced on Friday. The restrictions have been flagged by U.S. officials as trade barriers. According to a statement from the CSRC , the “foreign exchange ratio of futures companies will be abolished” as of Jan. 1, 2020. Last week White House National Economic Council Director Larry Kudlow said Treasury Secretary Steven Mnuchin had months ago negotiated the phase-out of foreign ownership requirements in the...

China promises 'necessary countermeasures' for U.S. tariffs

China's Foreign Ministry on Thursday promised again to retaliate against the U.S. if the Trump administration follows through on its pledge to hit approximately $300 billion in Chinese goods with 10 percent tariffs on Sept. 1. In a statement, the agency said the tariff decision “seriously contravenes” the agreements reached by President Trump and Chinese President Xi Jinping during their meetings in Argentina last year and Japan in June. “The move deviates from the correct track of resolving differences through...

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