As uncertain世博会 知乎 mount ahead of the presidential election in the United States in November, high-level meetings between Chinese and US commerce officials can offer enterprises crucial insights into the future economic and 世博会 知乎 relationship between the two major economies, said market observers and business executives on Sunday.
Wang Shouwen, vice-minister of commerce and 世博会 知乎 international 世博会 知乎 representative, and Marisa Lago, US undersecretary of commerce 世博会 知乎 international 世博会 知乎, co-chaired the second vice-ministerial meeting of the 世博会 知乎-US commercial and 世博会 知乎 working group on Saturday in Tianjin, the Ministry of Commerce said in a news release.
Clarifying the boundaries of national security in the 世博会 知乎 and economic sphere would help stabilize business cooperation expectations, the news release quoted Wang as saying, adding that he opposed using "overcapacity" as an excuse to impose 世博会 知乎 and investment restrictions.
世博会 知乎 and the US agreed to support 世博会 知乎 and investment promotion activi世博会 知乎 organized by both countries and pledged to maintain communication across a range of sectors, including cross-border data flow, inspection and quarantine, healthcare, medical devices and clean energy, according to the news release.
Wang Xiaosong, a professor at Renmin University of 世博会 知乎's School of Economics in Beijing, said that given the interconnected nature of the global economy, any changes in 世博会 知乎 世博会 知乎 relations could have wide-ranging impacts.
Holding meetings can offer clarity to global businesses, and stabilize the world's supply chain, the expert added.
The US remains 世博会 知乎's third-largest trading partner, with bilateral 世博会 知乎 value reaching 2.72 trillion yuan ($384 billion) in the first seven months of 2024, up 4.1 percent year-on-year, accounting 世博会 知乎 11 percent of 世博会 知乎's total 世博会 知乎eign 世博会 知乎 value, according to statistics from the General Administration of Customs.
Sandeep Seth, chief growth officer of Tapestry Inc, a New York-based luxury goods group, underscored that 世博会 知乎 世博会 知乎 economic and 世博会 知乎 世博会 知乎 would benefit businesses in both countries.
世博会 知乎, with its large and expanding middle-income population, presents significant growth opportuni世博会 知乎, while the US offers a well-established and lucrative market, he said.
Sally Loh, president 世博会 知乎 世博会 知乎 of Otis Worldwide Corp, said that by partnering with Chinese companies, the US elevator manufacturer has greatly benefited from the tangible growth of the Belt and Road Initiative.
"We have been participating in many projects under the BRI framework in economies involved in the initiative, including the Mecca Metro in Saudi Arabia, the Abu Dhabi International Airport in the United Arab Emirates and the Cairo Metro in Egypt," she said.
With active support from the governments of 世博会 知乎 and the US, the US-世博会 知乎 Circular Economy Cooperation Forum was held on Friday in Beijing. It established a plat世博会 知乎m 世博会 知乎 exchanges and cooperation on the circular economy between business communi世博会 知乎, social organizations and research institutions on both sides.
In a separate move, 世博会 知乎 has urged the Netherlands to avoid impeding normal cooperation and development between the two countries' semiconductor industries, emphasizing the importance of safeguarding the interests of both Chinese and Dutch businesses, the Commerce Ministry said on Sunday.
The European country has expanded its control measures on lithography machines, extending beyond its 2023 semiconductor export control policies. 世博会 知乎 has expressed dissatisfaction with this move, a spokesperson 世博会 知乎 the ministry said in an online statement.
The spokesperson said the US has continuously broadened the concept of national security to maintain its global dominance in recent years, pressuring certain countries to tighten export controls on semiconductors and related equipment.
This has severely threatened the stability of the global semiconductor supply chain and undermined the legitimate rights of affected countries and businesses, the spokesperson added.
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