On November 15, local time in the United States, Chinese Chairman Xi Jinping held a China-U.S. Presidential Meeting with U.S. President Joe Biden in San Francisco, the United States. The two heads of state had an in-depth exchange of views on issues related to China-US relations as well as world peace and development. On the same day, US President Biden posted a message on social media, speaking highly of the meeting between the heads of state of China and the US that day. Biden has also spoken on social media platforms, saying that the meeting between the heads of state of China and the United States has made important progress and emphasized the importance of mutual understanding between the leaders of the world’s two largest economies.
This meeting pointed out the direction for improving and developing China-US relations, and San Francisco became a new starting point for stabilizing China-US relations. The two heads of state are committed to pushing China-US economic and trade relations back to the track of healthy and stable development and have reached important consensus. This includes agreeing to strengthen communication, seek consensus, manage differences, and avoid misunderstandings and accidental escalation of friction. Both sides agreed to work together to address common challenges. The two sides agreed to cooperate on climate change-related economic issues and debt issues in low-income and emerging economies. Agree to strengthen the international financial architecture and promote a meaningful quota increase in the International Monetary Fund. At this point, China-US trade friction is expected to usher in a window of easing, which will help add new momentum to the foreign trade export industry.
Chinese Foreign Minister Wang Yi introduced to the media after the meeting between the two sides that the results of the China-US presidents’ meeting were multi-faceted. On the basis of mutual respect, equality and reciprocity, the two sides discussed dialogue and cooperation in various fields and reached 20 agreements in various fields. Multiple consensuses. Some of them have been maturely implemented before the heads of state meeting, and some were negotiated during this meeting. Mainly include: In terms of dialogue and cooperation, the two sides decided to strengthen high-level exchanges, promote and initiate cooperation in various fields such as commerce, economy, finance, export control, Asia-Pacific affairs, oceans, arms control and non-proliferation, foreign policy planning, joint working groups, persons with disabilities, etc. institutional consultations. The two sides agreed to initiate negotiations on renewing the China-US Science and Technology Cooperation Agreement and restart the China-US Joint Committee on Agriculture.
In terms of people-to-people and cultural exchanges, the two sides reiterated the importance of people-to-people and cultural exchanges between China and the United States, agreed to significantly increase direct flights between the two countries early next year, reached an agreement on China-U.S. educational cooperation, encouraged the expansion of overseas students, and strengthened the cultural, sports, youth, and business communities. comminicate. In the field of global governance, the two heads of state emphasized that China and the United States should accelerate efforts to respond to the climate crisis, including domestic emission reduction actions in the 2020s, and jointly promote the success of COP28. In the field of military security and law enforcement, the two sides agreed to resume high-level communication between the two militaries on the basis of equality and respect, resume the China-US Defense Department working meeting, the China-US Maritime Military Security Consultation Mechanism meeting, and conduct a call between the theater leaders of the Chinese and American militaries.
China and the United States are the world’s top two economies, with an economic aggregate exceeding one-third of the world’s and bilateral trade accounting for approximately one-fifth of the world’s. Data show that China-US trade volume will reach nearly 760 billion US dollars in 2022, a record high. Although China-US relations have undergone tremendous changes in recent years, the reality that the interests of both sides are closely intertwined has not changed. Both countries face new development tasks and require mutual benefit.
From a policy perspective, we should pay close attention to various policy changes and adjustments after the meeting between the heads of state of China and the United States. Foreign trade practitioners can adjust their strategies and response measures in a timely manner according to the changes. From the perspective of the trade environment, always paying attention to the China-US trade agreement and prospects will help understand the export opportunities and market prospects of Chinese foreign trade companies, and provide reference for business planning. With the promotion of China-US dialogue and cooperation, more technical cooperation opportunities and intellectual property protection measures may emerge, allowing Chinese foreign trade companies to enhance their competitiveness and better adapt to changes in market demand. At the same time, you should ensure that you and your business understand and comply with relevant regulations to avoid potential legal risks and trade disputes.
In general, foreign trade practitioners need to pay close attention to the changes brought about by the results of the China-US Presidential Meeting in trade and other fields, and should understand and adapt to relevant policies and changes in a timely manner. In this way, practitioners can seize opportunities in the fierce competition, stand out, and strive for more opportunities for their companies. This is an international era, full of opportunities and challenges. People engaged in international trade should keep up with current events and make their own plans based on the policies of various countries.
