China and the United States should enhance mutual trust to secure more promising bilateral relations.

This was one of the messages of a panel discussion on the theme of "The Rebalancing of Sino-U.S. Relations" during the Sanya Forum 2017, a forum for international dialogue held in Sanya, Hainan Province from Dec. 9-10.

In a new context of both competition and cooperation, building mutual trust is the largest challenge facing China and the U.S. in maintaining sound bilateral relations, said Zhang Baijia, former deputy director of the Party History Research Center of the CPC Central Committee at the panel discussion on Dec. 10.

According to the scholar of Chinese diplomatic history, Sino-U.S. relations need to be rebalanced because the relative strength of the two countries has changed, manifested by closing gap in composite national strength and increasingly intense competition in military, economic, financial and technological fields.

Zhang observed that the relations between the two countries involve global, bilateral and – most crucially – regional issues. Because the modernization of Asia-Pacific countries converged after the initiation of China’s reform and opening up, contemporary Sino-U.S. relations concern the future not only of China but also Asia as a whole.

Steve Orlins, president of National Committee on United States-China Relations, said some U.S. actions, such as the self-initiated anti-dumping investigations, were undermining mutual trust.

"I think domestic factors have an enormous effect on U.S.-China relations. It’s important that we look for specific actions to maintain positive momentum so that the people of America can understand that U.S.-China relations are in their benefit," he said.

William Zarit, chairman of the American Chamber of Commerce in China, said communication was critical to the U.S.-China economic relationship.

The Trump administration thought past communication mechanisms, including the Joint Commission on Commerce and Trade, strategic and economic dialogue as well as talks at both working and senior levels, were ineffective and has sought to create a more comprehensive economic dialogue, said Zarit.

"But nobody is talking about it now. I am hoping that we will reestablish good communications at all levels on the bilateral economic relationship," he said.

According to its chairman, the American Chamber of Commerce in China established three policy priorities which it thought would be constructive approaches to improving commercial ties: building trust through clarity and consistency, promoting development through open investment, and stimulating innovation through global cooperation.

Li Ruogu, former chairman and president of the Export-Import Bank of China, agreed with Zarit, suggesting China fulfill a related commitment to increase transparency, predictability and fairness, which are significant drivers of new foreign investment for China.

He added the most important measure to enhance mutual trust on the Chinese side is to continue taking its own economic development as the top priority.

Other participants of the panel discussion included Jia Qingguo, dean of the School of International Studies of Peking University; Chu Shulong, professor of School of Public Policy and Management at Tsinghua University; and Douglas Paal, vice president for studies at the Carnegie Endowment for International Peace.

The panel discussion was presided over by Zhang Yandong, deputy managing editor of Caijing Magazine, the organizer of the forum.

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