China US

Chinese and US delegations convened in Stockholm, Sweden on Monday for a new round of economic and trade talks, the Xinhua News Agency reported.

Regarding the ongoing talks, China's Foreign Ministry on Monday reiterated the hope of having more consensus and cooperation and less misperception through communication and dialogue on the basis of equality, respect and mutual benefit, highlighting that trade and economic cooperation between the two countries is mutually beneficial in nature. 

The remarks came as the economic and trade talks in Sweden between China and the US drew close attention from the business community and media outlets, after the two sides reached a key consensus during the Geneva trade consultations in May and established the framework in London in June. 

Experts said that the new round of talks should engage in dialogue and cooperation on an equal basis, urging the US to heed the voices of the business community, as a stable and healthy China-US relationship is good for China, the US, and the world.

Talks in spotlight

In response to a question about China's position going into the trade talks in Sweden, Guo Jiakun, a spokesperson from China's Foreign Ministry, told a press conference on Monday to "stay tuned" for specifics. "Let me stress that China's position on the economic and trade issue is consistent and clear," he said.

"We hope that the US will work with China to act on the important common understandings reached by the two presidents during the phone call, make good use of the consultation mechanism, have more consensus and cooperation and less misperception through communication and dialogue on the basis of equality, respect and mutual benefit, and promote the steady, sound and sustainable development of China-US relations," Guo added.

The spokesperson also noted that the trade and economic cooperation between the two countries is mutually beneficial in nature, when asked to comment on a Financial Times report claiming that the US has frozen all new export controls against Chinese entities as a gesture ahead of the trade talks and that China has agreed to do the same.

Sean Stein, president of the US-China Business Council, told the Global Times on Monday that "the discussions in Stockholm are essential to achieving the continuity needed for working level talks to proceed."

"We believe that both governments have a common interest in combatting the negative effects of involution, and are pleased to see new policies addressing the challenge… a positive outcome in Stockholm could help revive business confidence," he noted.

"I hope that step by step closer relations based on facts and not ideological differences can develop. This would be good for China, the US, and the world," Carl F. Fey, Professor of Strategy, BI Norwegian Business School, told the Global Times on Monday.

Gao Lingyun, a research fellow at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, urged the US not to use issues outside the Geneva consensus as bargaining chips for coercion, noting that only by negotiating on an equal basis and avoiding politicizing trade issues can it lead to some pragmatic outcomes during this round of talks.

He Weiwen, a senior fellow at the Center for China and Globalization, told the Global Times on Monday that China's position is to uphold the multilateral system with the WTO at its core, promoting the establishment of a fair, mutually beneficial, and rules-based international trade order. 

He believes that China will continue to send a clear signal to the US and the international community during negotiations, noting that China and the US should engage in dialogue and cooperation on an equal basis, avoiding unilateralism that undermines global economic stability.

Call for further engagement

As the new round of China-US talks in Sweden drew widespread attention, South China Morning Post reported, citing two sources, that a high-level American business delegation will visit China this week on a trip that will be organized by the US-China Business Council and led by FedEx chief executive Rajesh Subramaniam, the council's board chair.

The full list of visiting business leaders and their schedule is not known but both sources said that Boeing executives and council president Sean Stein were certain to be part of the delegation, according to the report.

A source familiar with the matter confirmed the news of the visiting US delegation on condition of anonymity on Monday.

Song Zhiyong, head of the Civil Aviation Administration of China, met with Brendan Nelson, senior vice president of the Boeing Company and president of Boeing Global on Monday, with both sides exchanging in-depth views on the cooperative development between Boeing and Chinese civil aviation, according to caacnews.com.

Nvidia founder and CEO Jensen Huang recently visited China to attend the third China International Supply Chain Expo, during which he praised China's tech companies and vast market potential, expressing optimism about the country's advances in AI, robotics and smart manufacturing, as well as China's growing role in global innovation.

Gao noted that the economies of China and the US are highly complementary, and interactions between enterprises from both sides have always been comprehensive and in-depth, driven by substantial demand. 

"US unilateralism move cannot sever American companies' engagement in the Chinese market and supply chains; instead, they complicate business interactions, increase costs, and harm the long-term competitiveness of enterprises," Gao warned.

"China's stable market environment, continuously expanding consumer capacity, and continuous opening-up measures are the main factors attracting multinational companies, including American firms, to invest in China," Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said on Monday, noting that the country's active promotion of dialogue to resolve differences with the US has also instilled a certain level of confidence in these companies.