China will ‘listen’ but calls on US efforts to improve trade ties

Beijing, Jan 13 (EFE).- China asked the United States for “efforts” so that trade relations between the two countries “return to the right path,” although Beijing said it was “willing to listen to the opinions of American companies,” the country’s commerce ministry said Friday in a statement.

Minister Wang Wentao said in a virtual meeting with US and China Business Council President Craig Allen that “cooperation is beneficial to the well-being of the two peoples and plays a fundamental role in the growth of the world economy.”

“The US has implemented trade and investment restrictions, as well as protectionist practices against China. This has only harmed the interests of companies and people in both countries,” Wang said.

The minister said he hopes the US “correctly sees the opportunities China’s development brings to the US and the world,” and that “the modernization of China, with a population of more than 1.4 billion, brings great opportunities for global companies, including American ones.

“China is willing to listen to the opinions of foreign companies, including those from the United States, and will continue to improve its always law-based and market-oriented international business environment,” he added.

Last year, the US commerce department announced a new order that will prevent Chinese companies or individuals from accessing US-made microchips or components, under threat of being placed on its list of sanctions for foreign companies that do not comply with the measure.

China lashed out at these restrictions while the US claimed Beijing would be using its technological advances to spy on its own citizens and develop advanced military technology.

Given the open trade war with Washington since March 2018 and the diplomatic tensions between the two, China has announced various measures and plans to boost the national semiconductor industry, in which it continues to depend on foreign manufacturers.

Relations between Beijing and Washington have deteriorated in recent years, especially during the US presidency of Donald Trump, marked by the trade war launched against China, which ended up leading to an increasingly tense conflict in other fields such as technology.

In November, Chinese President Xi Jinping and US counterpart Joe Biden held a meeting on the Indonesian island of Bali before the G20 summit that served to reduce tensions between the two main world powers and staged a rapprochement. It aimed to prevent their rivalry from escalating into open conflict, although both remained firm in their red lines. EFE

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