China releases white paper on China-U.S. economic relations

China releases white paper on China-U.S. economic relations outlining its stance after the rise in economic tensions.

The State Council Information Office of China published a white paper on Wednesday, outlining China’s position regarding economic and trade matters with the United States. The document emphasizes the need for discussions between both nations based on mutual respect and a win-win approach.

Titled “China’s Position on Some Issues Concerning China-U.S. Economic and Trade Relations,” the white paper stresses that the economic and trade relations between China and the U.S. hold significant importance not just for the two countries but also for the stability and progress of the global economy. However, it notes that recent disruptions in bilateral cooperation have largely resulted from increasing U.S. unilateralism and protectionist policies.

The white paper is divided into six chapters, beginning by reiterating the mutually beneficial nature of China-U.S. trade. It clarifies that China does not seek a trade surplus and acknowledges the substantial gains both sides have made through economic collaboration.

The document also outlines China’s efforts in fulfilling the China-U.S. phase-one economic and trade agreement. These efforts include strengthening intellectual property protection, prohibiting forced technology transfers, expanding market access for food, agricultural, and financial services, and ensuring ongoing communication with the U.S. on practical matters.

Additionally, the white paper highlights China’s commitment to free trade principles and adherence to the World Trade Organization (WTO) rules. It details China’s progress in aligning its trade policies with international standards, fulfilling tariff reduction commitments, offering subsidies within global norms, and continuously improving its business environment.

The paper criticizes the U.S. for breaching aspects of the phase-one agreement, citing the expansion of national security definitions, excessive use of export controls, and the imposition of “reciprocal tariffs.” These actions, the document asserts, have significantly undermined the healthy and stable development of bilateral economic relations.

The white paper concludes by urging that disputes between the two countries be resolved through dialogue and cooperation rooted in equality and mutual benefit. It emphasizes the international community’s hope that China-U.S. collaboration can create more global opportunities.

“History has shown that cooperation benefits both sides, while confrontation results in mutual loss,” the white paper states. It calls on the U.S. to work together with China based on mutual respect, peaceful coexistence, and win-win cooperation, in order to promote a stable, healthy, and sustainable economic relationship between the two nations.