China, U.S. business councils hold roundtable in Washington on trade and economic cooperation

The China Council for the Promotion of International Trade (CCPIT) chairman Ren Hongbin on Wednesday met with Craig Allen, president of the U.S.-China Business Council (USCBC) in Washington during a roundtable on promoting exchanges between the two countries' business communities, the CCPIT said.

The roundtable was one of events during a week-long visit paid by the CCPIT and a Chinese business delegation to the U.S. starting July 27, following a U.S. business delegation visiting China on July 22, in the heels of the recently concluded the Third Plenum of the 20th Communist Party of China (CPC) Central Committee.

During the roundtable, Ren said that the Third Plenum emphasized that China should develop new institutions for a higher-standard open economy, which provides a rare historical opportunity for deepening exchanges and cooperation between the business communities of China and the U.S., and achieving win-win cooperation.

Moving forward, Ren expressed hope that the two councils can enhance exchanges, and make efforts to promote bilateral business relations.

Allen was thankful for the CCPIT and Chinese business efforts in meeting foreign companies' operation demand in China. He said he is looking forward to more measures to implement the guideline of the Third Plenum and the policies boosting domestic demand in China.

The roundtable brought together a Chinese business delegation consisting of multiple entrepreneurs and executives from 11 top-500 U.S.-based companies, according to the CCPIT.

Representatives from U.S. business community expressed optimism about the positive signal of China's broader opening-up. They hoped that U.S. companies can participate in China's modernization drive and achieve win-win cooperation, adding that the China International Supply Chain Expo offers platform for productive communication between enterprises from the two countries.

Invited by CCPIT, a U.S. business delegation led by Raj Subramaniam, board chair of the U.S.-China Business Council, arrived in Beijing on July 22, comprising top executives from U.S.-based multinational companies, including Micron, Goldman Sachs, Apple and Boeing.