U.S. urged to listen to its companies' sensible, pragmatic voice

The Chinese side hopes the United States will listen attentively to the sensible and pragmatic voice of U.S. companies, and bring bilateral relations back onto the right track of sound and steady development, a Foreign Ministry spokesperson said here Wednesday.

Spokesperson Wang Wenbin told a daily press briefing when asked to comment on the 2022 American Business in China White Paper released by the American Chamber of Commerce in China (AmCham China).

"We remain opposed to any effort at outright decoupling of the U.S.-China relationship," the white paper said. It added that the U.S. tariff exemption program for China should be expanded and the COVID-19 pandemic and pandemic response should not be politicized.

AmCham China chair said that "what has made China attractive to our member companies has been the country's clear long-term strategic development goals, significant market opportunity, and a highly supportive and predictable business environment."

Noting that China-U.S. economic and trade ties are mutually beneficial and win-win in nature, Wang said in a world of economic globalization, opening-up and integration represents an invincible historical trend. Attempts to build walls and decouple run counter to economic laws and market rules, and will harm others without benefiting oneself.

Wang said he noticed that the white paper shows U.S. businesses' firm opposition to any effort at outright decoupling of the U.S.-China relationship as the costs of decoupling from losing trade and foreign investment benefits for both countries would be significant and are unlikely to generate clear winners.

"We hope the Unted States will listen attentively to the sensible and pragmatic voice of U.S. companies, meet China halfway in the spirit of mutual respect, peaceful coexistence and win-win cooperation, and bring bilateral relations back onto the right track of sound and steady development," Wang stressed.

The white paper noted that China is among the largest and fastest growing markets in the world and constitutes an important market for U.S. products and services. China's market also has a robust research, development and innovation ecosystem, and many leading American companies generate a substantial portion of their revenue from the Chinese market, the spokesperson said.

The white paper said China is a key source and supplier of a vast number of products and components, often at lower cost and in larger scale than available elsewhere, which benefits U.S. consumers. More than two-thirds of the surveyed report China as one of their company's top three investment priorities, Wang added.

The white paper also raised some suggestions, the spokesperson said, noting that the Chinese side will take a close look at them.

"Looking ahead, the Chinese economy has strong resilience and ample potential, and the fundamentals sustaining its sound growth in the long run remain unchanged. China will continue to deepen reform and expand opening-up, create a market-oriented, law-based and internationalized business environment and provide more opportunities for international businesses including U.S. companies to operate and invest in China," Wang stressed.