On November 18, 2005, Foreign Minister Li Zhaoxing met in Pusan, the Republic of Korea with US business representatives attending the APEC Business Leaders' Summit.

Li said China-US relations have maintained a sound momentum of development at present with bilateral common interests constantly expanding, cooperation areas gradually broadened and cooperation foundation increasingly consolidated. It is believed that President Bush's visit to China the following day would further promote China-US constructive cooperative relations. China would like to make joint efforts with the United States to actively carry out the important consensuses reached between the two heads of state, proceed from their common interests and promote mutually beneficial cooperation for a win-win situation.

Li pointed out that the rapid development of bilateral economic and trade cooperation has brought tangible benefits for both peoples and it is a vital pillar and strong driver for China-US relations. With regard to the issues of the US concern such as bilateral trade imbalances, the exchange rate of RMB and the protection of IPR, Li stressed it is inevitable for the two countries to have some disputes in the process of rapid development of economic and trade cooperation. As long as we stick to the principle of "development, equality and mutual benefit", respect each other, take into full consideration each other's concerns, and enhance mutual trust, these disputes can be settled properly. Li expressed his appreciations to the US business community for their support and promotion of China-US relations and bilateral economic and trade cooperation over the years and hoped they could continue to play an active role in this respect.

The US business representatives indicated that China's booming economy is very encouraging and President Hu Jintao's speech at the APEC Business Leaders' Meeting further enhanced their confidence over investing in China. The disputes between China and the US in the process of economic and trade cooperation can be overcome and will not hinder the further development of bilateral economic and trade relations. The US business community will, as always, make efforts to promote China-US relations and bilateral economic and trade cooperation.