Ambassador Qin Gang Attends the Virtual Welcome Event Hosted by the USCBC


On September 13, 2021, Ambassador Qin Gang attended the virtual welcome event hosted by the US-China Business Council. USCBC Chairman Tom Linebarger, President Craig Allen and some board members participated in this event.

The USCBC extended welcome to Ambassador Qin for assumption of office, and expressed its commitment to China-US friendly exchanges and bilateral economic cooperation.

Ambassador Qin spoke highly of the important contributions made by the USCBC in maintaining and fostering China-US economic cooperation over a long period of time. He said, on September 10, President Xi Jinping and President Joe Biden had a phone talk, and President Xi said to President Biden, when China and the United States cooperate, both countries and the world will benefit; when China and the United States are in confrontation, both countries and the world will suffer. Getting the relationship right is not optional, but something we must do and must do well. President Xi's words show China's sincerity to pursue sound and stable China-US relations. My mission here is to work with the US side and make sure that we deliver. I look forward to working with all of you towards this end, and I would love to talk to you, and be a good listener and helper to you, so that we can uphold and promote the common interests of China and the US.

Ambassador Qin said that China's economy enjoys a good momentum and bright prospects. Since the beginning of this year, it has maintained a steady and upward trend. In the first six months, it registered a year-on-year growth of 12.7%. Foreign trade grew by 27.1% and paid-in foreign investment increased by 28.7%. According to the IMF, China's contribution to world economic growth will exceed 1/4 for the next five years. China will continue to be the source of confidence, growth and hope for world economic recovery in the post-pandemic era. China's high-quality development in the new stage and for a new paradigm will provide a broader market to foreign investors, including American businesses.

Ambassador Qin pointed out that, President Xi Jinping stressed that China is committed to promoting high-level opening-up, protecting property rights and intellectual property rights, and making our policies more transparent and predictable. China will build a market-oriented, law-based and world-class business environment. China has been shortening the negative list for access of foreign investment for four years in a row. The latest list only has 33 items. For those areas outside the list, domestic and foreign investments are treated equally. When China joined the WTO, China pledged to open 100 services sectors, and now it has committed another 22 sectors. Up till now, we have removed all the foreign ownership caps on the manufacturing sector and agriculture, and the opening of the services sector, including the financial industry, is also picking up speed. Several days ago, President Xi Jinping announced that we will extend the negative list for trade in services across the country, explore the development of national demonstration zones for the innovative development of trade in services, and establish Beijing Stock Exchange to support the development of innovation-oriented SMEs.

Ambassador Qin stressed that reform and opening-up is just like crossing the river by feeling the stones. New problems will occur when developing a market-oriented economy, but not all of them are predicted. When new problems occur, we must try to resolve them with new solutions. The Chinese government's policies and measures are to define what is allowed and what is not, and create a fair and law-based market environment. This will make our policies more predictable. At the same time, the Chinese government will carry out extensive study and solicit people's opinions before introducing a new policy.

Ambassador Qin said that according to the latest survey of USCBC, uncertainties caused by difficulties and challenges facing the China-U.S. relations has been most worrisome to American business community. If we compare China-US relations to a giant ship, then economic and trade cooperation has been its ballast and propeller. When the ship sails against heavy winds and huge waves, we need to add more strength to the ballast and propeller. On concerns about the uncertainties in China-US relations, what I can offer is the certainty from the Chinese side. China's economy is promising, its market potential is huge, and its door of opening-up will only open wider. China will continue to welcome American companies to explore Chinese market. To be frank, the difficulties and uncertainties in China-US trade and business cooperation are not from the Chinese side. I hope that the US side will meet with China halfway, follow the principles of mutual respect, equality and mutual benefit, and make earnest efforts to improve China-US relations.

Ambassador Qin said that as a show of sincerity, China has been faithfully implementing the agreement despite the pandemic, and has made positive progress in enhancing IPR protection and expanding market access of agricultural products and the financial sector. At the same time, China has eliminated market-based tariffs on imports from the US to facilitate trade. However, since the agreement came into force, the US has continued to impose sanctions and restrictions on China, including putting more than 900 Chinese entities on various lists of restrictions. This has directly affected Chinese companies' ability and willingness to purchase from the US and has had a negative impact on the implementation of the agreement. The US business community is concerned about China's future tariff exclusions policy. Recently, US media reported that the Biden administration is considering launching a Section 301 investigation into the subsidies of China. Neither Section 301 investigations nor tariff war has worked. The US business community must be aware of this from firsthand experience. It is hoped that necessary conditions and atmosphere can be created for the implementation of the phase one agreement and bilateral economic and trade exchanges, rather than making things worse.

Ambassador Qin reiterated his commitment as Chinese Ambassador to the US to acting as a bridge and bond between the two countries and working extensively with US business community to be a good listener and helper, so as to uphold and promote the common interests of China and the US.

Ambassador Qin also gave introduction to the development and policies of related industries in China, and had in-depth exchanges with USCBC board members on issues of common interest.

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