Sino-U.S. steps on managing differences move ahead

2023-10-25 Editor : Li Yan ECNS App Download

Relations: Strengthened contacts seen as conducive

Beijing and Washington are on a steady track of advancing their high-level and working-level contacts for managing differences and expanding cooperation, as officials from both sides have carried out and will embark on more interactions on key issues of common concern.

Foreign Minister Wang Yi will visit the United States from Thursday to Saturday at the invitation of U.S. Secretary of State Antony Blinken, Foreign Ministry spokeswoman Mao Ning said on Tuesday.

During his visit, Wang "will have an in-depth exchange of views" with senior U.S. officials on bilateral relations and international and regional issues of common concern, said the spokeswoman.

Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, will have friendly exchanges with people from all walks of life in the U.S., and he will "make clear China's principled position and legitimate concerns regarding China-U.S. relations" during this visit, Mao added.

"It is hoped that the U.S. will work with China to implement the important consensus reached by the two heads of state, strengthen communication and dialogue, expand practical cooperation, properly manage and control divergences, and jointly bring bilateral relations back on the track of sound and stable development," Mao said.

Also on Tuesday, the China-U.S. Economic Working Group held its first meeting via video link.

The meeting, which was chaired by financial officials at the vice-ministerial level from both sides, engaged in in-depth, candid and constructive discussion, according to a statement released by the Ministry of Finance.

The meeting covered various topics, including the macroeconomic situation and policies of both nations and in the global context, bilateral economic relations and cooperation in addressing global challenges, the statement said, adding that China expressed its concerns and both parties agreed to maintain communication.

Analysts said that the meeting will help the world's two largest economies better navigate frictions through institutional dialogues and inject positive energy into world economic recovery.

Despite an intensified rivalry in the trade and technology arena, economic tensions between the two countries are showing signs of easing as a result of increasing high-level communication over recent months, said Liu Ying, a researcher at Renmin University of China's Chongyang Institute for Financial Studies.

The U.S. economy is sluggish due to high interest rates, high inflation, high debt, high risk and low growth, while China is heading toward steady recovery, Liu said, adding that strengthened communication will be conducive for both sides and facilitate global economic development.

The Economic Working Group was established in September along with a Financial Working Group.

The Financial Working Group, led by vice-ministerial level officials from the People's Bank of China, the country's central bank, and the U.S. Treasury Department, will conduct its first meeting on Thursday morning, according to a statement released by U.S. Treasury Department.

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