Chinese Foreign Minister Wang Yi met with a delegation of the U.S.-China Business Council (USCBC) in Beijing on Monday, voicing the hope that the U.S. business community will make new contributions to the development of China-U.S. relations.
The delegation led by Raj Subramaniam, board chair of the USCBC, is on a week-long visit to China. This marks the first visit by a U.S. business group following the third plenary session of the 20th Central Committee of the Communist Party of China (CPC).
The delegation includes representatives from major companies like Goldman Sachs, Boeing, Micron, and Qualcomm, all of which have substantial business interests in China.
Wang, also a member of the Political Bureau of the CPC Central Committee, reiterated China's firm stance on comprehensively deepening reform and promoting Chinese modernization.
He expressed the hope that the U.S. business community will continue to work hand in hand with China to not only achieve greater development for itself but also make new contributions to the development of China-U.S. relations and the friendship between the two peoples.
"We follow the right path chosen by the Chinese people. We will neither copy foreign models nor export Chinese models. We are ready to strengthen exchanges and integration with other countries on the basis of equality and mutual respect," said Wang.
"China's policy toward the United States has been consistent and stable. We always hope to handle affairs with the United States in accordance with the three principles of mutual respect, peaceful coexistence and win-win cooperation. We have always been committed to strengthening cooperation with the United States, managing differences, strengthening and expanding dialog and cooperation, and striving to make China-U.S. relations stable and sound and move forward," he said.
Wang said it is hoped that the USCBC and its member companies will make full use of their connections and influence to present an accurate, multi-dimensional and comprehensive picture of China, and make more objective, positive and rational voices to promote a correct understanding of China in the United States, stop the repression of China's economy, trade and technology, and effectively resolve the obstacles that hinder people-to-people and cultural exchanges to promote the steady and sound development of China-U.S. relations.
The U.S. delegation said that the plenum is expected to stimulate a new round of economic reform, further opening up in China, and attract more sustainable foreign investment.
They said the U.S. business community is confident in continuing to deepen its cooperation with China and looks forward to further deepening bilateral cooperation in fields such as economy, trade, investment, green development, health, education and people-to-people exchanges.
"All of us here, all the leaders here, are deeply invested in fostering a strong and balanced U.S.- China relationship, which is in the interests of both countries," said Raj Subramaniam, also president and CEO of FedEx Corporation.
USCBC is willing to actively exert its influence and role and act as a stabilizing force for developing U.S.-China relations, according to the U.S. delegation.
Chinese FM hopes US business community will contribute to bilateral ties
Known primarily for its coal production, the city of Taiyuan in Shanxi Province is undergoing a cultural transformation. As part of China's booming concert economy, Taiyuan is actively seeking to provide unforgettable experiences for music fans.
Local authorities are supporting businesses in capitalizing on the growing demand for immersive concert experiences.
Taiyuan has implemented innovative initiatives. The city offers free public transportation for concert attendees, including bus and subway rides, both during the concert period and for three days before and after the event .
Taiyuan's commitment to creating a vibrant concert atmosphere is evident throughout the city. Giant banners and posters promote upcoming events, while various support activities further enhance the experience.
At a recent concert, a CGTN correspondent witnessed the city's dedication to providing a memorable experience. Each fan was greeted with a personalized souvenir bag filled with local specialties. Additionally, a captivating drone performance delighted the audience, adding an extra layer of excitement to the event.
"We have both also been to several concerts before. But this is the first time we've enjoyed various perks. Some shops are offering free merchandise. There are shuttle buses. The concert ticket also provides free admission to other local attractions. I think it is really nice," a concertgoer said.
"I have attended several concerts in Taiyuan where I have had really great experiences," another concert fan said.
Taiyuan's thoughtful initiatives have not only delighted concertgoers but also stimulated the city's consumer activity.
"From April to September, Taiyuan hosted more than 10 concerts. We could feel the enthusiasm of the fans at each event. There was a noticeable increase in hotel bookings as well," said Ma Shuting, marketing manager of a local hotel.
The concert period has also boosted the street-stall economy. The area around the venue has been transformed into a vibrant marketplace, with hundreds of stalls offering a diverse range of goods and services, from snacks and concert merchandise to beauty treatments.
"Business is doing quite well because there are many people coming from both out of town and locally. The daily revenue is approximately between 2,000 and 3,000 yuan (about 282 to 423 U.S. dollars)," a vendor told CGTN.
To solidify its position as a leading performing arts center in Northern China, the local government has made a significant commitment to fostering the concert economy.
"All 11 government departments in Taiyuan have jointly introduced several measures to support the development of the concert economy. For concert organizers in Taiyuan that meet the criteria, subsidies ranging from 150,000 yuan to 800,000 yuan (about 21,200 to 113,000 U.S. dollars) will be provided. Additionally, the city government has also established a special task force to ensure the smooth running of large-scale concerts," said Liu Rui, deputy director of the Taiyuan Bureau of Culture and Tourism.
The concert economy holds immense potential for economic growth, as demonstrated by the impact of Taylor Swift and Coldplay concerts on Singapore's GDP, which was boosted by around 0.25 percent.
Taiyuan is positioning itself as a major player in the concert industry, with over 30 concerts scheduled for this year alone. These events are expected to attract nearly 800,000 fans and generate tens of billions of yuan in consumer spending.
The city's commitment to the concert economy reflects its proactive pursuit of new growth drivers. This not only boosts consumption in the culture and tourism sector but also contributes to the broader economic transition toward high-quality growth.
Taiyuan's thriving concert economy boosts cultural, tourism growth
