Business chiefs urge better ties

Both sides see opportunities flowing from B&R Initiative

The US Chamber of Commerce and the China Center for International Economic Exchanges－the business thinktank of the Chinese government－will organize a meeting within the next 12 months to promote to US companies the projects related to the initiative.

The initiative was announced in a joint statement released after the Ninth US-China CEO and Former Senior Officials' Dialogue in Beijing.

The statement said the US side at the coming meeting will provide input on ways Chinese companies can participate in US infrastructure revitalization initiatives.

Myron Brilliant, executive vice-president of the US Chamber of Commerce, said the initiative had spurred investments in infrastructure. He said it will considerably broaden the potential for Chinese and US investment, and open many opportunities for Chinese and US companies to cooperate in third countries.

"Significant participation by US companies, including in partnership with Chinese businesses, can make new contributions to the furtherance of China-US economic and trade relations," Brilliant told a news conference after the dialogue in Beijing.

The business leaders forum occurred against the backdrop of a productive summit between the leaders of the two countries in Florida in April, when both sides agreed to 100 days of trade talks.

The talks started to yield results in May, when they agreed to take action by mid-July to increase access for US financial companies and expand their trade in chicken and beef.

Zhang Xiaoqiang, vice-chairman of the Beijing-based China Center for International Economic Exchanges, said infrastructure projects in the US will generate an enormous need for investment, and the new US administration has indicated that this is a major priority.

"China has strong capabilities and cost advantages in infrastructure building, including the building of urban roads, expressways, flyovers, high-speed rail and ports," Zhang said.