US-China CEO and Former Senior Officials' Dialogue

Joint Statement

Fourth Annual

US-China CEO and Former Senior Officials' Dialogue

China Center for International Economic Exchanges

US Chamber of Commerce

INTRODUCTION

The US Chamber of Commerce and the China Center for International Economic Exchanges co-hosted the 4th US-China CEO and Former Senior Officials' Dialogue from June 4th to 5th, 2013 in Beijing. The American and Chinese representatives reviewed the achievements of the previous Dialogues and held in-depth discussions on ways to promote deeper trade and investment relations between the two countries.

In addition to a consensus on issues in the bilateral economic agenda as presented below, the participants in the dialogue respectfully called on both governments to take steps to deepen cooperation, strengthen strategic trust across the range of their bilateral, regional and global interactions, and build a new type of relationship between major countries based on mutual respect and mutual benefit. While participants believe that elements of healthy competition will always exist in the US-China relationship alongside cooperation, the participants rejected the views of those in each country that see the future as inevitably adversarial. Indeed, the participants see great opportunity and necessity for these two great nations to cooperate and collaborate on a range of pressing economic and social issues.

With regard to the economic and commercial issues, the participants expressed a range of views, including substantial differences on some key items. However, consistent with the consensus reached in the previous Dialogue sessions, the participants identified areas of agreement and concrete steps their governments could take to advance bilateral economic relations on a mutually beneficial basis.

Participants expressed their strong support for the US-China Strategic & Economic Dialogue (S&ED) and the US-China Joint Commission on Commerce and Trade (JCCT). Participants agreed that the S&ED focus on a limited number of the most pressing economic and strategic issues in the bilateral relationship, while calling upon the JCCT to broaden and deepen its focus on resolving issues of importance to the two business communities.

The sections below represent the positive outcomes of Fourth US-China CEO and Former Senior Officials' Dialogue.

Ⅰ ECONOMIC RESTRUCTURING

Participants agreed that economic restructuring in China and the United States, the two largest economies in the world, is in the interests of both countries and the world. How the two countries manage common challenges such as coping with an aging society, promoting healthy capital markets, managing medium-term fiscal risks and sustaining competitiveness will be key to the healthy, steady and sustained development of both economies, and crucial to the stable recovery of the world economy.

Participants noted that in the past few years the Chinese and American economies were moving toward a more balanced direction. In the future, the United States will focus on expanding exports and revitalizing manufacturing in its restructuring effort, while China will give priority to expanding domestic demand and developing its services industry. These measures will help both countries to further balance their economies, lift the standard of living of our citizens, and create tremendous new business opportunities for Chinese and American companies.