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Wang Yi Meets with President of the Council on Foreign Relations Richard Nathan Haass of the United States (US)
2018-09-29

On September 28, 2018 local time, State Councilor and Foreign Minister Wang Yi, who was attending the 73rd Session of the United Nations (UN) General Assembly in New York, met with President of the Council on Foreign Relations Richard Nathan Haass of the United States (US) and other major members of the Council, manifesting the Chinese side's views on relevant questions raised by Richard Nathan Haass and others.

Wang Yi expressed that since the establishment of diplomatic relations between the two countries 40 years ago, China-US relations have enjoyed gradually enhanced endogenous impetus, with bilateral cooperation constantly deepened. At present, economies of the two countries enjoy high complementarities, and interests of the two countries enjoy deep integration. By entering the Chinese market, the US economy has remained vigorous for a long time; while entering the US market has also facilitated the growth of China's economy. However, there has been rising negative sentiment toward China in the US recently. Many people who are committed to maintaining and promoting China-US relations feel the cold wind blowing from behind, which should arouse the attention and vigilance of both sides.

Wang Yi said that some people claimed that the US has suffered a huge loss in its economic and trade exchanges with China, which is obviously not true. I would like to share with you a few basic figures. In 2017, every US farmer exported an average of more than 10,000 US dollars of agricultural products to China; General Motors Company sells 4 million vehicles every year in China, exceeding its sales in the US over the same period; and in 2016, US-owned enterprises achieved sales of over 600 billion US dollars in the Chinese market, and now the sales are definitely much bigger.

Wang Yi pointed out that some people of the US side have accused China of rolling back the opening up, and this is also groundless. President Xi Jinping has repeatedly and clearly stated that China will not close its door of opening up but open it wider. In fact, China has taken the lead among developing countries in terms of the speed and scope of the efforts in opening up. On services trade, the World Trade Organization (WTO) has set up more than 160 sub-sectors that need to be opened. The developed countries in average opened 108 of them, while China opened 100 of them, far exceeding developing countries' average of 54 and drawing near to that of developed countries. As for tariffs, when joining the WTO, China's commitment was to reduce the tariff to 10 percent and now it stands at 9.8 percent, going beyond our original commitment. What is more, the Chinese government has just announced its decision to further reduce it to 7.5 percent as of November 1. Particularly, China's tariff on agricultural products only stands at 15 percent, much lower than the average rate of 39 percent in developed countries. With regard to foreign investment, China has constantly been lowering the threshold for foreign investment. At present, over 96 percent of foreign investment in China has achieved local record filing management and does not need reviews or approval. The foreign equity cap for joint ventures was agreed between China and other WTO member states including the US when China joined the WTO, but we constantly ease it, making the environment increasingly favorable to foreign investment.

Wang Yi expressed that some people claimed that the Chinese side forces US enterprises to transfer technology, which is not true at all. China has no laws or regulations that force foreign enterprises to transfer technology. The truth is the US enterprises voluntarily signed business contracts with their Chinese cooperation partners to transfer certain technologies in order to access the Chinese market and those US enterprises have also charged fees for such transfers. According to statistics, Chinese enterprises paid more than 28 billion US dollars to foreign enterprises for the use of intellectual property last year. In the first eight months this year, Chinese enterprises have already paid 30 billion US dollars for intellectual property, a large part of which went to the pockets of US enterprises. It is obviously unfair that US enterprises blame China when they have not only gained market shares in China, but also obtained the payment of Chinese enterprises for the use of intellectual property.

Wang Yi also expounded the Chinese side's stance on the Korean Peninsula issue, the South China Sea issue and other issues.

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