On March 21, China General Chamber of Commerce – USA (CGCC) hosted “Legal and Policy Series 2018 No.1 US-China Relations Outlook Under Trump’s Administration at Bank of China building in New York. Zhang Qiyue, Consul General of China in New York, Xu Chen, Chairman of CGCC, Chairman of Bank of China USA, Ed Cox, Chairman of the New York Republican State Committee, Wang Wen, Executive Dean of Chongyang Institute for Financial Studies, Renmin University of China addressed at the event. Over 140 representatives from CGCC member companies attended the event.
Xu Chen welcomed the Amb. Zhang, Chairman Cox and Prof. Wang for their attendance. “The US-China relationship is facing incremental challenges and perhaps roadblocks to further development and cooperation. Hence, against the backdrop of rising complexities of the commercial and political environments, it is important for CGCC to continue to play a key role in facilitating timely discussions with key decision makers and policy advisors on the outlook of US-China relations.”
Amb. Zhang addressed at the event. She introduced what is “Two Sessions” and their significance for China. “US-China bilateral relations is not only important for two countries but has a strong global impact on the whole world,” she said. She doesn’t want to doubt the outlook of US-China relations, but she stressed both countries need some comprehension. Especially regarding US-China trade, Amb. Zhang referred to a Chinese proverb:”Don’t focus on a specific tree, but ignore the forest”.
Amb. Zhang emphasized the importance 2018 “Two Sessions” and shared the five major agenda of them: China cabinet re-election, Constitutional Legislation, new government agency-National Supervision Commission, Reorganization of government agencies, Premier Li Keqiang’s Government Work Report. All these agendas will draw up the blueprint of China for the next 5-30 plus years.
Amb. Zhang also states the 2018 new development target: first, the goal of GDP increase is 6.5%. CPI increase rate drops by 3%. Targeted job creation will be 11 million in the urban area. Second, pay great attention to personal income growth and diminish the unbalance of personal income growth and economic growth. Third, improve production efficiency and prevent pollution. Forth, preventing financial risk.
Ed Cox retrospected the establishment of US-China diplomatic relations in1970s and compared the US-China relations under Nixon’s administration 40 years ago and under Trump’s administration currently. He said. American First initiative does not mean the US will go to isolation, but only protecting US interests in a vigorous way”,”Being realistic is a basis in US-China trade area”.
Prof.Wang delivered his insight by stating that “the relation between China and US should enter a new-era of co-evolution.” He utilized compared economic development, industrial structure，people’s well being, urbanization process and etc between US-China by using data charts. He concluded that “China is a country worthy of conducting cooperation, achieving mutual benefit, pursuing peace. Strengthening China-US communication is the only way to achieve common prosperity”.
Special thanks to Consulate General of the People’s Republic of China in New York and Bank of China for their support for this event. Special thanks to Ed Cox, Prof. Wang Wen for their speeches. All of them helped CGCC become a formal, professional, and influential not-for-profit organization serving US-China business communities.