CRNTT:

How does the MOFCOM see the next phase of China-U.S. economic and trade relations? The international community is paying much attention to the communication between China and the United States, and especially wonders if the two countries can re-establish the bilateral economic and trade dialogue mechanism. What's your position on this? Thank you.

Wang Wentao:

This is a question that attracts wide attention. On Feb.11, President Xi and U.S. President Biden held a phone call, exchanged ideas on China-U.S. relations and pointed out the direction of the future development of the bilateral economic and trade relationship. China upholds that the nature of China-U.S. economic and trade relation is mutual benefit and win-win results. The interests of the two sides are deeply integrated. The two countries stand to gain from cooperation and lose from confrontation. Cooperation is the only correct choice. Despite the global trade slump due to the COVID-19 pandemic in 2020, China-U.S. trade has bucked the trend. China is the largest trading partner of the United States. Cooperation of trade and investment of the two sides has contributed to their economic recovery. This has proven that economic and trade cooperation drives the development of China-U.S. relationship, and has brought real benefits to both sides. 

In his call with President Biden, President Xi stressed that China and the U.S. should re-establish the various dialogue mechanisms, read each other's policy intentions accurately, and avoid misunderstanding and miscalculation. China is willing to deepen bilateral exchanges in economic and trade, and cooperate on the basis of mutual respect, equality and mutual benefit. This serves the interests of the people in both countries and benefits the whole world. In the next stage, I look forward to joint efforts with our colleagues in the United States. By following the spirit of the phone call between the presidents of the two countries, we would like to step up communication, enhance understanding, focus on cooperation and manage differences in order to take bilateral economic and trade relations back on the track of cooperation. Thank you. 

Market News International:

China has expressed that it's readily considering joining the CPTPP after the signing of the RCEP. What's the role of your ministry in this regard? Is there any relevant timetable? What are the challenges to China's economic development if China joins the CPTPP, such as labor and environmental standards and intellectual property protection? Thank you.

Wang Shouwen: 

Thank you for your question. On Nov. 20 of 2020 at the APEC Economic Leaders' Meeting, President Xi said that China would favorably consider joining the CPTPP. In December last year, the Central Economic Work Conference proposed again that China would actively consider CPTPP membership. As you know, the CPTPP covers a wide range of content, and we are doing our work in two aspects. The first is that we are conducting assessments, research and deep analyses of all CPTPP clauses including those you mentioned. Second, we have made informal contacts with some of the 11 members of the CPTPP. We also plan to engage with the rest of the members as well to talk at the technical level on issues involved, so we can have a more accurate understanding regarding the content of relevant agreements. Thank you.