China and US Business Councils Discuss Cooperation at Washington Roundtable

02 Aug, 2024

China and US Business Councils Discuss Cooperation at Washington Roundtable

Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), met with Craig Allen, president of the US-China Business Council (USCBC), in Washington on Wednesday. The roundtable aimed to promote exchanges between the business communities of China and the US and was part of a week-long visit by a Chinese business delegation to the US. This followed a US business delegation visit to China that concluded on July 23, post the third plenum of the 20th Communist Party of China Central Committee.

Ren highlighted that the third plenum emphasized developing new institutions for a higher-standard open economy in China, providing historical opportunities for deepening exchanges and cooperation between Chinese and US businesses for win-win outcomes. He expressed hope for enhanced exchanges and efforts to promote bilateral business relations.

Allen thanked the CCPIT and Chinese businesses for meeting foreign companies' operating demands in China and looked forward to more measures implementing the third plenum's guidelines and policies boosting domestic demand in China. The event included a Chinese business delegation and executives from 11 top US-based companies. US business representatives were optimistic about China's broader opening-up and hoped to participate in China's modernization drive for mutual benefits. The China International Supply Chain Expo was highlighted as a platform for productive communication between enterprises from both countries.