Win-win cooperation

The United States is the largest developed country; China is the largest developing country and the largest emerging market. Commercial cooperation between China and the United States produces huge benefits. The gap in development between the two countries and win-win cooperation are the basis for the steady development of a Sino-U.S. business relationship. In the process of globalization, China and the United States share many benefits. A win-win Sino-U.S. commercial relationship is good for the people of the two countries and will continue to help cement the overall bilateral relationship.

There are broad prospects for China-U.S. economic and trade cooperation. China is in a period of accelerating industrialization and urbanization. It is quickening the transformation of its economic growth pattern and forging ahead with economic restructuring. It takes the expansion of domestic demand, especially consumer demand, as a long-term strategy for economic development and a basic starting point.

This process will unleash huge investment demand and consumer demand during the 12th Five-Year Plan period (2011-15). As the world's largest exporter and second largest importer, China is expected to become the world's largest domestic consumer market by 2020. This undoubtedly means better opportunities and greater development space for U.S. businesses.

Ruey-bin Kao, Chairman of Motorola (China) Electronics, said Motorola had invested about $1.5 billion in research and development in China. It has more than 2,700 research and development staff. "The better China develops, the more opportunities we have," he said. "Motorola is very optimistic about the Chinese market and looks forward to participating in China's innovation." GE, IBM, Coca-Cola and other large multinational companies are actively engaged in China's structural adjustment, energy saving and emission reduction strategies and offer support in these areas.

"The Chinese Government will continue the trade policy of maintaining a basic balance between imports and exports to further deepen the opening up, reform and innovation of China and will make things easier for domestic and foreign investors by creating a more open and optimized investment environment. Foreign enterprises, including those from the United States, will share the growing market pie with Chinese enterprises," an official with China's Ministry of Commerce said.

Experts point out the great achievements in Sino-U.S. economic and trade cooperation have been hard won. The United States should adhere to the concept of free trade and oppose trade and investment protectionism in all forms. It needs to re-evaluate and relax export control measures against China as soon as possible.

U.S. foreign investment reviews ought to be exercised reasonably in order to reduce unnecessary constraints and promote investment cooperation. The United States needs to c continue to strengthen macroeconomic policy coordination with China to jointly promote balanced and sustainable development of the world economy.

The present period is crucial for the deepening of Sino-U.S. economic and trade relations. The development of healthy China-U.S. economic and trade relations will help promote stable economic growth in the two countries and global economic recovery. Only from a strategic and long-term perspective and through the continued promotion of Sino-U.S. economic and trade ties, can the two countries make greater contributions to their peoples and the world as a whole.