In order to implement the consensus of the meeting between the two heads of state in San Francisco, on November 16, Minister of Commerce Wang Wentao and U.S. Secretary of Commerce Gina M. Raimondo held the first ministerial meeting under the communication channels between Chinese and U.S. commerce ministries in San Francisco. The two sides conducted pragmatic, constructive and fruitful communication on China-US economic and trade relations and economic and trade issues of common concern.

Wang Wentao said that the meeting between the two heads of state in San Francisco is of strategic and historic significance, and provides stewardship, which has pointed out the direction for China-US economic and trade relations. China is ready to work with the United States to implement the consensus of the leaders’ meeting, adhere to mutual respect, peaceful coexistence and win-win cooperation, make good use of the communication channels established between Chinese and U.S. commerce ministries, strengthen dialogue, manage differences, and create a good environment for trade and investment cooperation between the two countries.

The two sides conducted in-depth exchanges on national security issues related to economic and trade fields. Wang Wentao emphasized that overstretching and politicization of national security affect regular trade and investment exchanges, and it is very important for both sides to discuss the national security boundary for economy and trade. Wang Wentao expressed concerns about the final rules of US semiconductor export control on China, sanctions against China enterprises, two-way investment restrictions and Section 301 tariffs.

The two sides appreciated the positive progress made by the commerce and trade working groups of Chinese and U.S. commerce ministries and discussed the specific concerns of enterprises of the two countries. The two sides agreed that the commerce ministries of the two countries will hold the first meeting of the commerce and trade working group (deputy ministerial level) dialogue in the first quarter of next year. They will support subnational economic and trade cooperation and trade and investment promotion events in the two countries, jointly promote cooperation and matchmaking projects between Chinese and American businesses for practical results and establish project offices, jointly promote the establishment of a dialogue mechanism between China and the United States on standards conformity assessment. The two sides discussed and agreed that experts from the two countries would have technical discussions on strengthening the protection of trade secrets and confidential business information during administrative licensing procedures in January 2024.

(All information published on this website is authentic in Chinese. English is provided for reference only.)