The U.S. companies make way more profit than Chinese firms in bilateral trade, an official said on Tuesday.
China has the trade surplus while the U.S. enjoys "surplus of interest," China International Trade Representative and Vice-Minister of Commerce Fu Ziying said.
Fu made the comments when addressing the white paper-The Facts and China's Position on China-U.S. Trade Friction.
China published the white paper on Monday to clarify the facts about China-U.S. economic and trade relations, demonstrate its stance on trade friction with the United States, and pursue reasonable solutions.
The document was released as a new round of tariff hikes between the two sides took effect amid growing concern over undermining global growth.
China to open its doors to all LNG suppliers, official says
As Sino-U.S. trade tensions escalate, China said it will open its doors to all suppliers of liquefied natural gas around the world.
The trade war between China and the United States has brought damage to the global value chain and exerted a negative impact on normal trade, Vice-Minister of Commerce Wang Shouwen said at a press conference on Tuesday.
Wang said the U.S. can be an important supplier for China's liquefied natural gas, but because Washington has adopted trade restrictions, China has to take countermeasures.
China, as a huge market, is willing to further open up and will give opportunities to all LNG suppliers around the globe, he said.
He added Australia is an important source of LNG for China, and the two sides have a large amount of trade with great potential.
Wang made the comments when addressing a white paper titled The Facts and China's Position on China-U.S. Trade Friction. It was published on Monday to clarify the facts about China-U.S. economic and trade relations, demonstrate China's stance on trade friction with the U.S., and pursue reasonable solutions.
China urges U.S. to display sincerity in trade talks
China urged the U.S. to show sincerity and respect in bilateral trade negotiations, an official said on Tuesday.
When to restart the Sino-U.S. high-level economic and trade talks depends entirely on the U.S., Vice-Minister of Commerce Wang Shouwen said at a press conference.
Wang said the Chinese side is open to resolving economic and trade differences through negotiations.
But effective negotiations need the two parties to respect each other in an equal manner. One needs to be sincere in negotiations and follow its promise, he stressed.
Sino-U.S. high-level talks have been carried out for four rounds and achieved some consensus. The U.S., however, has went back on its words and adopted trade restrictions, Wang added.