Ambassador Xie Feng urges business leaders to act as 'bridge' for stable China-U.S. relations

Ambassador Xie Feng has urged business leaders to continue to act as a bridge for China-U.S. relations, and he called for the bilateral relations to truly stabilize, improve and move forward.

China-U.S. relations now face many challenges, and stabilizing and improving the relationship remains a long and arduous task, Chinese Ambassador to the U.S. Xie Feng said when he met with delegates from American Chamber of Commerce in China on Thursday.

It is hoped that friends from the business community will continue to act as a bridge and bond for China-U.S. friendship and mutually beneficial cooperation, making every effort to speak out and contribute to the stable development of China-U.S. relations, and promoting bilateral relations to truly stabilize, improve and move forward, he added.

Xie's remarks came in the backdrop that the Biden administration is disgruntled with China's massive edge in green manufacturing, alleging it as "overcapacity".

The Biden administration plans to impose new tariffs on electric vehicles (EVs), semiconductors, solar panels and medical supplies imported from China. Tariffs on EVs, in particular, could quadruple from the existing 25 percent to 100 percent, the Associated Press reported.

However, U.S. accusations of Chinese "overcapacity" is not a market-driven conclusion, but a crafted narrative to manipulate perception and politicize trade, with the real purpose to hold back China's high-quality growth and depriving China of its legitimate right to development, said China's Foreign Ministry.

Xie said that the important consensus reached during the meeting between the top leaders of China and the U.S. in San Francisco has charted the course for the development of China-U.S. relations.

"We must follow the principles of mutual respect, peaceful coexistence, and win-win cooperation, valuing harmony, stability, and trust, and promote the development of China-U.S. relations along a stable, healthy, and sustainable path," Xie said.

Xie briefed the meeting's participants on the continuous and positive momentum of China's economy, saying that China's determination to expand high-level opening-up is unwavering, and new quality productive forces are accelerating the formation.

Modernization with Chinese characteristics will provide new historical opportunities for countries around the world, including the U.S., he said.

China's GDP grew by 5.3 percent in the first quarter of 2024, well above market expectations as the world's second largest economy has gotten off to a robust start and laid a solid foundation for it to achieve the pre-set goal of growing by around 5 percent for the whole year.

Deputy head of the National Bureau of Statistics Sheng Laiyun said that, looking ahead, China will actively cultivate and develop new quality productive forces and strengthen the implementation of the government's macro policies, and continue to effectively pursue high-quality growth and appropriately increase economic output.

The American Chamber of Commerce in China was established in 1919 and provides consulting, information, and business support services for American enterprises in China. It currently has nearly 1,000 member companies.