Senior Chinese official He Lifeng met with Ray Dalio, founder of U.S. investment management firm Bridgewater Associates, in Beijing on Monday, and the two sides exchanged views on the macroeconomic situation and China-U.S. economic and trade relations.
He, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Financial and Economic Affairs, said the Chinese economy has enjoyed a steady start and maintained good development momentum since the beginning of the year, with a unified national market taking shape and the release of consumption potential accelerating.
China will further deepen its reform comprehensively and promote high-level opening-up of its capital market, He said, adding that international investors are welcome to participate actively in the construction of China's capital market and share in its development opportunities, He said.
Dalio said that China's economic and social development achievements are there for all to see, and he expressed willingness to continue contributing to U.S.-China economic and trade cooperation.
Senior Chinese official meets with Bridgewater founder
Senior Chinese official meets with Bridgewater founder
Senior Chinese official meets with Bridgewater founder
The United States' push to revoke China's Permanent Normal Trade Relations (PNTR) status, or granting the Most Favored Nation (MFN) treatment permanently, is a clear instance of unilateralism and trade protectionism, according to a white paper released by China's State Council Information Office on Wednesday.
The white paper, titled "China's Position on Some Issues Concerning China-US Economic and Trade Relations", aims to clarify the facts about the bilateral economic and trade relations between the two countries and lay out China's position on relevant issues.
The white paper said that the PNTR status is the ballast of China-U.S. economic and trade relations.
The U.S. push to revoke this status violates the rules of the World Trade Organization's (WTO), undermines China-U.S. relations, and disrupts the global economic order, the white paper noted.
According to the white paper, WTO rules require its members to unconditionally grant MFN treatment to all other members, a requirement that has binding legal force.
Over the past two decades, the PNTR has served to stabilize China-U.S. economic and trade relations. Revoking China's PNTR status will see China-U.S. economic and trade relations returning to the uncertainty and unpredictability that preceded China's accession to the WTO in 2001.
China opposes any unilateralist and protectionist acts that sabotage the multilateral trading system and hopes that the U.S. will be clearly aware of the possible harm caused by its attempt to revoke China's MFN status, the white paper said.
The white paper called on the U.S. to work constructively with the overwhelming majority of WTO members in safeguarding a fair and reasonable global economic and trade order and environment.
Rescinding China's most favored nation status undermines foundation of China-US trade relations: white paper
