China and the United States have made new progress in negotiating the text of an econom
ic and trade deal, but much work remains to be done, the Ministry of Commerce said on Thursday.
Negotiating teams from the two countries are hashing out the text of the deal, including
an enforcement mechanism, on the basis of mutual respect and benefit, said Gao Feng, ministry spokesman.
The remarks came as the world’s two biggest economies have been i
ntensifying their consultations and aiming to break the deadlock in a timely manner.
In the most recent round of trade consultations, the negotiators discussed technolo
gy transfers, protection of intellectual property rights, nontariff measures, the service sector, agriculture, tra
de imbalances and enforcement mechanisms, according to earlier reports.
The American Chamber of Commerce in China said in a recent white paper that the US business commu
nity in China, long an advocate of good bilateral relations, can no longer be relied on to be a positive anchor.
will be significant demand for top-quality goods and services,” he told China Daily.
Noting that many European companies are renowned for their innovation and reliability, Bagnasco said that “there shou
ld be plenty of business to be done” in Xiongan. In June, Mats Harborn, chamber president, paid a visit to Xiongan and wa
s received by Chen Gang, vice-governor of Hebei province and director of Xiongan’s management committee.
Chen said he hopes the chamber will take an active role in such areas as green developm
ent, intelligent technologies and innovation in Xiongan, an official news release from the new area said.
“The EU Chamber of Commerce in China has been building relationships in Xiongan for some time now, and the me
eting in June was just one part of that,” Bagnasco said, adding that the meeting was a good opportunity to furt
her develop relationships and deal with more concrete matters, such as specific investment mechanisms.
inated and inter-connected, and fair and inclusive approach and forge a growth
model of vitality, a cooperation model of openness and win-win results, and a developm
ent model of balance and common benefits, so that people from across the world could share the benefits of economic globalization, Xi said.
This year marks the 70th anniversary of the founding of the People’s Republic of China, Wang said.
During his visit, Xi, based on China’s just-concluded Two Sessions earlier this month, illu
strated to the European leaders the fine performances of the Chinese economy which had overcome multiple challenges in 2018.
Wang said Xi also introduced the newly-adopted foreign investment law, emphasizi
ng that it is necessary to use legal means to better protect intellectual property rights and attract foreign investment.
Xi pointed out that China will continue to push forward all-round reform and opening-up, promote trade and investment
liberalization and facilitation, so that European friends can better share China’s development opportunities.