Remarks of Ambassador Qin Gang to The CGCC Chicago (the China General Chamber of Commerce U.S.A. - Chicago) 2021 Annual Gala & Manufacturing Summit
2021/10/28 14:46

   On the occasion of the CGCC Chicago 2021 Annual Gala, I would like to extend my warm congratulations to all of you!

   Economic and trade cooperation has always been an anchor and propeller of the China-US relationship. Now this relationship is going through a new round of adaptation and adjustment. Under such circumstances, I hope that economic and trade cooperation will also serve as a lubricant and stabilizer of our ties. The Annual Gala itself demonstrates the business community’s strong desire to promote such cooperation. Manufacturing can best reflect the in-depth development of global value chain and international division of labor. This sector’s global cooperation is in line with the objective laws of economic operation. Chinese and American economies have highly complementary structures and deeply integrated interests. From addressing the challenges brought by the disarrayed global industrial chain and value chain, to promoting post-pandemic economic recovery, China and the US must coordinate and cooperate with each other.

   Manufacturing was the first sector to open up in China, and competition is greater in this field than others. Since China joined the World Trade Organization, it has basically opened its manufacturing sector to the full. Only four items are remaining on the negative list for foreign investment access. Opening-up has brought in foreign capital, technology and talents for the sector, which has in turn provided good returns for foreign investors.

   China is the most promising market in the world. We have been the world’s second largest importer for 12 consecutive years. From January to September, China’s imports were worth almost two trillion dollars, up by 32.6% year-on-year and reaching a record high. According to the latest WTO statistics, China’s global share of imports in the first six months this year went up to 12%, which represents 15% of the global increase. In the next decade, China will import over 22 trillion dollars of goods. The annual China International Import Expo will be held in Shanghai on November 5, and more Fortune 500 and industry-leading companies are signing up this year than last year. In the previous three years, the numbers of participating American companies were all among the most. I wish them plenty of sales this year. China will continue to welcome American companies to expand their investment in China. We will open wider to the world and build a market-oriented, law-based and world-class business environment for foreign investors. In particular, we will step up efforts on IPR protection. We also hope that the United States will remove its restrictions and barriers for the cooperation between Chinese and American companies, and create a fair and equitable environment for Chinese investors.

   The CGCC Chicago Annual Gala is an important platform for Midwestern business community to engage with China. It is also a great event of China-US subnational exchange. I wish it a full success!


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