China- US relations help build solid foundations for cooperation

The outlook of US- China relations is promising in various fields including economic and trade cooperation, agricultural exchange, education and investment, according to participants in the US- China Think Tank Symposium held on Monday.

More than 20 Chinese and US experts and scholars gathered Monday in Des Moines, capital of the mid- west US state of Iowa, to deliberate on such topics as China- US relations, local cooperation and the relationship between the two countries.

In a speech at the opening ceremony, former minister of the State Council Information Office Zhao Qizheng said rapid development of China- US eco- nomic and trade cooperation was key to China- US relations, and would help build up a solid foundation for China- US cooperation in other fields.

Statistics show that ChinaUS trade volume grew from $ 2.5 billion in 1979 to $ 524.3 billion in 2016, a rise of 209 times, according to Chinese Consul General in Chicago Hong Lei.

China is the US’ largest export market outside North America, and is also one of the fastest growing major export markets of the US.

“People of both countries have benefited from this economic and trade relationship,” said Zhao, “China- US economic and trade cooperation prom- ises huge opportunities, and the prospects are very promising.”

The relationship between China and the US has experienced ups and downs but has kept forging ahead as economic and trade cooperation acted as “ballast stone” and “propeller,” Hong said.

In 2016, bilateral service trade volume between the two countries exceeded $ 100 billion, and two- way investment totaled $ 170 billion. “The China- US relationship is one of the most important bilateral relations in the world, for which economic and trade cooperation is the most active and lasting driving force,” Hong said.

Statistics also show a rosy picture of the China- US partnership in terms of education and investment.

According to a report published by US Immigration and Customs Enforcement in May 2016, the US is the top destination for Chinese students studying abroad, with 353,000 Chinese students accounting for 34 percent of the total number of international students in the US, said Hong.

The Chinese Ministry of Commerce estimated that Chinese students studying in the US spent about $ 45,000 per person in 2016, contributing about $ 15.9 billion to US revenue.

US- invested enterprises in China are continuing to thrive. In 2016, the total revenue of US- funded banks, insurance and security companies reached $ 48 billion, Hong said.

In the meantime, Chinese investment in the US is growing rapidly. A report by the National Committee on US- China Relations and Rhodium Group indicated that Chinese enterprises invested $ 45.6 billion in the US in 2016, a 200- percent increase from the previous record set in 2015. The article is from the Xinhua News Agency. opinion@ globaltimes. com. cn