China-us Relations Back on Track of Stability
Chinese President Xi Jinping and US President Joe Biden held a “candid and constructive” exchange of views in a phone call on April 2, which the two leaders discussed China-us relations and global challenges, according to official statements from both sides.
According to China’s Foreign Ministry, Xi pointed out that societies of both countries and the international community welcome signs of stability in China-us relations since the summit meeting in San Francisco last November, but growing negative factors in the relations also require attention from both sides.
Xi stressed that the issue of strategic perception is always “fundamental” to the China-us relationship, “just like the first button of a shirt that must be put right.” He underlined three overarching principles for China-us relations in 2024, including putting “a floor of no conflict and no confrontation under the relationship” to maintain peace, refraining from “setting the relationship back, provoking an incident or crossing the line” to keep the overall stability of the relationship, and “honoring their commitments to each other with action” to turn the San Francisco vision into reality.
Xi stressed that the Taiwan question is the first red line that must not be crossed in China-us relations. He also warned that the US’S measures of suppressing China’s trade and technology development are “creating risks,” not “de-risking.”
Xi stated China’s position on Hong Kong-related issues, human rights, the South China Sea and other issues.
The White House said the call was to manage “intense” competition, “address misperceptions, and prevent unintended conflict.” It disclosed that the two leaders encouraged progress “on key issues discussed at the San Francisco summit, including counternarcotics, military-to-military communication, talks on Ai-related risks, climate change and people-to-people exchanges.”
US Treasury Secretary Janet Yellen paid a visit to China from April 4 to 9, during which she talked with Chinese senior officials, including Chinese Premier Li Qiang and Vice Premier He Lifeng who is also the Chinese lead person for China-us economic and trade affairs, as well as China’s central bank Governor Pan Gongsheng and Finance Minister Lan Fo’an.
At her press conference in Beijing on April 8, Yellen described bilateral relations as being “on stronger footing today than this time last year,” and emphasized that “the US does not seek to decouple from China.” She said that during her visit the two countries agreed to hold “intensive exchanges on balanced growth in the domestic and global economies” and expand cooperation and exchanges on financial issues.
Liao Min, China’s vice finance minister, said at a press conference the same day that deepening communication, coordination and win-win cooperation on economic and financial policies between China and the US is important for post-pandemic economic recovery of the world’s two largest economies and the global economy. Responding to US concerns over the capacity of China’s new energy sector, Liao stressed that Chinese producers’ competitive edge is built on the huge size of the Chinese market, China’s fully-fledged industrial chain and Chinese companies’ investment in innovation.
The fourth meeting of the Chinaus Economic and Financial Working Groups will be held in Washington, DC in mid-april. US Secretary of State Antony Blinken will also visit China in the near future.