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Consul General Hong Lei Attended the Event in Missouri Promoting 1st China International Import Expo
2018-02-28 07:20

On February 28, Consul General Hong Lei attended the event in St. Louis, Missouri to promote the China International Import Expo (CIIE). Commercial Counselor Zou Xiaoming also briefed the audience on relevant information about the CIIE. The event was co-hosted by the World Trade Center St. Louis and the local chamber of commerce. More than 40 Missouri business and political leaders attended the event.

In his speech, Consul General Hong Lei said that to better share development opportunities of China with the world, President Xi Jinping announced during the Belt and Road Forum for International Cooperation in May, 2017 that China will host CIIE from 2018 onwards. Holding the Import Expo is a major decision by China to firmly support trade liberalization and economic globalization and take the initiative to open its market to the world. It is conducive to international exchanges and cooperation in trade and commerce and promoting economic growth, as well as the development of an open global economy. More than 150,000 participants from Chinese and international businesses are expected to attend the Expo, which is also great news for US companies. We sincerely welcome American businesses, including businesses from Missouri to participate in the CIIE as exhibitors and purchasers so as to explore the China market, to share business opportunities in trade cooperation, and to achieve mutually beneficial and win-win development. Using the CIIE as a platform, China will open up a new channel for Sino-US trade and cooperation.

Consul General Hong Lei said that China-US economic and trade cooperation has not only benefited the Chinese people but also brought tangible benefits to the people of the United States. According to data released by the US Department of Commerce, American exports to China amounted to 101.369 billion US dollars in 2017. US exports of goods to China have grown by 580% since 2001 when China acceded to the World Trade Organization, which is much higher than the 110% growth of US goods exports to the world during the same period. China has risen from the eighth largest export market of the United States to become its third largest market. In 2016, US exports of services to China reached 54.2 billion US dollars, and US trade surplus with China in services exceeded 38 billion US dollars, which has increased by 908% since 2001. The growth of US service exports to China is also far higher than the 170% growth of US service exports to the world during the same period. As the two largest economies and trading powers in the world, China and the United States have already formed a highly interdependent relationship through economic and trade cooperation with deeply intertwined interests. Therefore, the common interests between China and the United States in economy and trade are far greater than their differences. The two nations can achieve win-win cooperation with results that are beneficial to both sides.

Consul General Hong Lei said that after the publication of the 2017 US trade statistics, many media outlets are very concerned about US trade deficit with China. The trade imbalance between China and the United States is ultimately determined by the economic structure and industrial competitiveness of the two countries and the international division of labor between the two economies. It is also affected by a variety of factors, including the current methods of trade statistics collection, and the US restrictions on high-tech export to China. China has never deliberately pursued a trade surplus with the US. International trade is determined by the market forces and the independent choices of businesses and consumers in the two countries. We hope that the United States will take an objective and long-term view of the Sino-US trade imbalance. The two sides should adopt a constructive stance to effectively manage their differences through dialogue and consultation and solve relevant issues through cooperation.

Commercial Counselor Zou Xiaoming offered a detailed briefing on the distribution of the exhibition areas, the registration process, programs of the CIIE, and services available to support CIIE participants. He also answered questions from the participants.

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