The consensus of the heads of state leads to mutually beneficial cooperation - let economy and trade continue to be the ballast and propeller of China US relations

Guided by the consensus of the heads of state, relevant departments of China and the United States maintain communication in multiple fields. Continuing to make economy and trade the cornerstone and driving force of China US relations will not only bring more benefits to the people of both countries, but also inject more certainty and positive energy into the world.

Tighten the bond of cooperation

We see vast opportunities based in China and facing the world

At the end of July this year, at the invitation of the US China Business Council, the China Council for the Promotion of International Trade organized a delegation of 22 Chinese entrepreneurs to visit Salt Lake City, Chicago, and Washington in the United States. They held more than 10 business networking events with the US and had discussions and exchanges with over 120 American companies and institutions.

During a one-on-one negotiation in Salt Lake City, Sun Yu, Chairman of Zhejiang Rouling Technology Co., Ltd., showcased a nano electronic EEG sleep patch weighing only about 4 grams to the head of a well-known local essential oil company. The other party immediately instructed the Senior Vice President of Research and Development to send an email to establish cooperation intentions. With solid product quality, Rouling Technology has also reached preliminary consensus with more than 10 institutions, including local life science park operators and professional medical equipment distributors, on agency distribution and joint scene landing in the North American market.

The popularity of enterprise exchanges and cooperation is a reflection of the profound foundation of China US economic and trade relations. According to Chinese customs statistics, the total value of goods trade between China and the United States reached 2 trillion yuan in the first half of this year, with a year-on-year increase of 13.7% in the second quarter. The survey results of the US China Business Council show that 92% of the surveyed American companies will achieve profitability in China by 2025, and 95% believe that their business in China is related to their global competitiveness. Tan Sen, President of the US China Business Council, stated that American companies recognize the advantages of China's economy and innovation system, and are committed to deepening their presence in the Chinese market and collaborating with Chinese companies to enhance global competitiveness.

Recently, at the China US provincial and state investment and trade cooperation exchange event held in Xiamen, several American business people mentioned that the US China economic and trade cooperation has shown strong resilience, and US companies continue to invest in China. The latest report from the American Chamber of Commerce in Shanghai confirms this point: nearly 80% of the surveyed member companies' profit levels will rebound to the highest level since 2019 in 2025, and 58% of the surveyed companies are optimistic about China's business prospects in the next five years, an increase of 17 percentage points from the previous year.

SAIC Group and General Motors have officially signed a joint venture renewal agreement, extending the joint venture period of SAIC General Motors by 20 years to 2047; Tesla's integration of the Doubao voice model has sparked a spark in China US technological cooperation... Many American companies have cast a vote of confidence in China US economic and trade cooperation through practical actions. We see vast opportunities based in China and facing the world, "said Luo Xu, Senior Vice President of General Motors Global and President of General Motors China. In the future, we will develop products and technologies in China and promote them to the global market faster.

Allen, Senior Researcher at the China Center of the Asia Society of America and former President of the US China Business Council, stated that over the years, the US and China have continued to engage in trade, investment, and technology exchanges, achieving common development in this process. Further deepening economic and trade cooperation between the two countries will continue to benefit each other.

Sow the fields of hope

The more opportunities for mutual communication, the more we can explore cooperation opportunities that benefit both countries

American soybean farmer Gaisikai still remembers the crowded scene in front of the American Soybean Export Association booth at the 8th CIIE last year: the audience lined up in long lines, competing to taste dishes cooked with high oleic soybean oil from the United States. He received orders from Chinese companies at the beginning of the exhibition. During the 8th CIIE, the American Chamber of Commerce in Shanghai and the US Department of Agriculture jointly hosted the "American Food and Agriculture Pavilion" with an area of over 350 square meters. 19 American companies and organizations participated in the exhibition, and the total transaction volume of small and medium-sized exhibitors was nearly 12 million US dollars, an increase of 5% compared to the previous session.

At present, the preparations for the 9th CIIE are being intensively promoted, and the signing area of American companies continues to rank first among all countries. Zheng Yi, President of the American Chamber of Commerce in Shanghai, introduced that agriculture and food are important components of pragmatic cooperation between China and the United States. The complementarity between the two countries naturally exists in this field. The area of the "American Food and Agriculture Pavilion" at the 9th CIIE will be larger, and the number of participating companies and institutions will also increase.

Agriculture is one of the earliest, most effective, and promising areas of cooperation between China and the United States. China is the world's second-largest importer of agricultural products, while the United States is the world's largest exporter of agricultural products. The agricultural products imported from the United States not only meet the demand of the Chinese market, but also promote the development of related industries in the United States and increase the income of American farmers.

When we have a reliable purchaser and the purchaser is confident that we are a stable supplier, everyone can benefit, including farmers like me, as well as businesses and consumers in the upstream and downstream of the Chinese supply chain, "said Michael McLani, President of the American Soybean Export Association and a South Dakota farmer in the United States. The US soybean industry and China have established a partnership for more than 40 years, and" we can continue to create the next 40 years or even longer partnership on the basis of more than 40 years of cooperation

Nothing can replace sitting down face-to-face, asking each other questions, listening, and learning from each other. "McLani has received visitors from many countries to visit the farm and has also traveled to meet people around the world who purchase and consume American soybeans. He said that the trust established through interpersonal connections goes far beyond a single transaction. "The more opportunities for mutual communication between farmers, purchasers, and industry leaders in the United States and China, the more opportunities for cooperation that benefit both countries can be explored

The agricultural technology cooperation between China and the United States is also advancing in depth. In 2023, the American Soybean Export Association and Henan Province will cooperate to establish the "China US Soybean Product Application Value Chain Innovation Center", where Chinese and American agricultural enterprises will set up processing plants, research and development centers, and logistics bases in each other's countries. In June of this year, at the 2026 China US Local Cooperation Dialogue, the Zhoukou National Agricultural High tech Industrial Demonstration Zone in Henan Province reached an intention to cooperate with Rick Manufacturing Company in smart agriculture, and will work together to create an international benchmark for smart irrigation and wheat smart planting in the Huang Huai Plain.

Jim Mann, Chairman of the Board of Directors of the American Chamber of Commerce in China, stated that agricultural cooperation is an important pillar of economic and trade cooperation between the two countries. It not only helps to address global food security challenges, but also enables the two countries to fully leverage their respective advantages and achieve mutual benefit and win-win outcomes.

Linking the Future of Innovation

The combination of advantages and mutual synergy between the two countries can fully create greater value

At the 4th China International Supply Chain Promotion Expo held in June this year, the terms "partner" and "co innovation" became high-frequency words used by many American companies when discussing the Chinese market. From the first to the fourth edition, the number of American exhibitors and institutions consistently ranked first among foreign exhibitors.

Data shows that as of July this year, the United States has established over 84000 foreign-funded enterprises in China; In the first half of this year, US companies' investment in China increased by 7.8% year-on-year. In December last year, Tesla's Shanghai Gigafactory produced its 4 millionth vehicle, with 95% of its components coming from China and over 400 Chinese first tier suppliers participating. The supply chain ecosystem formed by General Electric Medical in China currently has an annual procurement volume of over 10 billion yuan and more than 1000 supplier partners.

The deep cooperation between Chinese and American enterprises continues to extend forward in the innovation chain. At this year's Chain Expo, Qualcomm partnered with over 20 industry partners to showcase more than 50 innovative cooperation achievements, covering fields such as artificial intelligence and 6G. Qualcomm President Amon said that the Chinese economy is full of vitality, and the combination of the advantages of the US and Chinese industries will give rise to a large number of development opportunities

From production and manufacturing to technological innovation, from the Chinese market to the global market, more and more American companies are incorporating China into their global research and development, production, and procurement systems. According to a survey conducted by the American Chamber of Commerce in China this year, nearly 60% of the surveyed companies plan to increase their investment in China. According to a survey by the American Chamber of Commerce in South China, 45% of surveyed companies list China as their preferred investment destination globally, with member companies having a reinvestment budget of approximately 13.79 billion US dollars for profits in China over the next 3 to 5 years.

From the CIIE to the Chain Expo, from the China International Fair for Trade in Services to the China International Fair for Trade and Investment, American companies continue to seek markets, partners, and innovation opportunities through China's open platforms. The most irreplaceable value of the Chinese market is not simply the market size, but the ability to continuously drive innovation and amplify innovation, "said Cheng Dandan, Senior Vice President of Paianying Global.

From hundreds of suppliers behind a new energy vehicle to a piece of glass, a chip, and a medical device, Chinese and American companies have formed a deeply integrated industrial ecosystem in research and development, manufacturing, supply, application, and marketing. Lin Chunmei, Vice President of Corning Inc., said that the US China industrial system is highly complementary at multiple levels. "The combination of advantages and mutual synergy between the two countries can create greater value, which is not only beneficial to both the US and China, but also to the world

The story of mutually beneficial cooperation between China and the United States is continuing to write a new chapter, from cross Pacific business dialogues to collaborative innovation, from soybean orders in the fields to joint venture renewals on assembly lines. Although there are still differences between the two countries that need to be properly managed, cooperation is the common aspiration of the two peoples and an irreversible trend of the times. Following the track determined by the summit, China and the United States can embark on a new process of mutually beneficial cooperation, bringing more benefits to the two peoples and injecting more positive energy into world peace and development.