Wright Heze and Mnuchin will be invited to visit China on March 28-29 to hold the eighth round of China-US high-level economic and trade consultations in Beijing. Vice Premier Liu He will be invited to visit the United States in early April and hold the ninth round of high-level Sino-US economic and trade consultations in Washington.
The two sessions have just ended, and a new round of trade negotiations is about to begin.
At the press conference of the Ministry of Commerce on March 21, the spokesman of the Ministry of Commerce said that US Trade Representative Wright Heze and Finance Minister Mnuchin will be invited to visit China on March 28-29 and hold the eighth in Beijing. High-level consultations on China-US economic and trade.
Immediately thereafter, Vice Premier Liu He will be invited to visit the United States in early April to hold the ninth round of high-level Sino-US economic and trade consultations in Washington.
The analysis pointed out that after entering the negotiation stage of the agreement text, the economic and trade teams of China and the United States maintained a close relationship with fast pace and short intervals. China and the United States have made some substantive progress in the text consultation, but they also face many technical problems, which need to be worded. During the consultations, the parties also need to switch to the home court to coordinate the positions of various domestic departments.
Regarding the implementation mechanism of the Sino-US trade agreement, China has repeatedly stated that any implementation mechanism must be two-way, fair and equal. Experts also stressed that the implementation of the agreement cannot be a one-way pressure and must be equal.
Gao Feng also said that in order to ensure the smooth implementation of the Foreign Investment Law, the Ministry of Commerce is working with relevant departments to actively promote the formulation of the supporting regulations for the Foreign Investment Law. At the same time, the Ministry of Commerce is also carrying out a comprehensive clean-up of existing foreign investment regulations and coordinating the promotion of "abolition of the waste".
Rapid pace of high-level consultations
At the press conference, Gao said that members of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, Chinese leader of the China-US Comprehensive Economic Dialogue, Liu He, and US Trade Representative Wright Heze and Finance Minister Mnuchin have recently held several rounds of telephone calls on Sino-US economic and trade issues. Consultation.
"The two sides agreed that Wright Heze and Mnuchin will be invited to visit China on March 28-29 to hold the eighth round of China-US high-level economic and trade consultations in Beijing. Vice Premier Liu He will be invited to visit the United States in early April, in Washington. Held the ninth round of high-level consultations on China-US economic and trade relations."
At 7 o'clock on the morning of March 14, Liu He had a third call since the seventh round of negotiations with Wright Heze and Mnuchin. According to Xinhua News Agency, China and the United States have further made substantial progress in the text.
Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce, told the 21st Century Business Herald on March 21 that the two rounds of high-level consultations between China and the United States will be short and the pace will be fast. Switching to the home field in just a few days is because after the two countries enter the text negotiation phase of the trade agreement, they will involve the problems of various departments in their respective countries and need to set aside time for coordinating domestic positions.
"In the next week's consultations, China is a home country, and it is relatively easy for all departments to communicate; and the US needs to coordinate its position. After the members return, they must report to the top, unify the opinions of the parties, and make a new round of negotiations. Decision-making, the interval between the two rounds of consultation is so short, which means that the difficulty is not great."
He Weiwen, former economic and commercial counselor of the Chinese Consulate General in San Francisco and New York, told the 21st Century Business Herald on March 21 that the next two rounds of high-level Sino-US economic and trade consultations were a normal arrangement: the two sides completed a round-trip negotiation in February. In the first half of March, due to the two sessions in China, the two sides mainly maintained telephone communication. It is natural to speed up the exchange of visits after the end of the two sessions.
He said that China and the United States have made substantial progress in the text consultations, indicating that the Sino-US consultations have made certain breakthroughs in substance rather than form. However, this does not mean that there is only one final step in the Sino-US consultations. There are still many problems to be resolved on both sides.
It is worth noting that US President Trump recently said that the US is discussing retaining tariffs on Chinese goods for a long period of time to ensure that if an agreement is reached, China will abide by the agreement.
Foreign Ministry Spokesperson Yan Shuang responded that he hopes that the economic and trade teams of China and the United States can implement the important instructions of the two heads of state, hold close consultations, and strive to reach a mutually beneficial and win-win agreement on the basis of mutual respect.
He Weiwen pointed out that the implementation mechanism is part of the Sino-US trade agreement. The two sides need to make further consultations on the specific details of the implementation mechanism. He believes that equality of status is the basic principle of Sino-US consultation. The implementation of the agreement cannot be a one-way pressure. It is equivalent. "First of all, in principle, it is illegal to add tariffs. It must be taken away. This is a general direction. There can be some flexibility in specific practices. For example, both sides will take a step back and advance step by step. Sexual."
Wang Fuwen, deputy minister of the Ministry of Commerce and deputy representative of international trade negotiations, recently responded that “China accepts the progressive elimination of tariffs as part of the agreement†and pointed out that the heads of state of China and the United States have reached important consensus and determined the principles and directions. To eliminate the tariffs imposed on each other, any implementation mechanism must be two-way, fair and equal.
Is formulating the "Regulations on Foreign Investment Law"
The Foreign Investment Law is a focus of attention of all parties during the two sessions this year. On March 15, the Second Session of the 13th National People's Congress reviewed and approved the Foreign Investment Law, which will be implemented on January 1, 2020.
At the press conference, Gao pointed out that in order to ensure the smooth implementation of the Foreign Investment Law, the Ministry of Commerce is working with relevant departments to actively promote the formulation of the supporting regulations for the Foreign Investment Law.
At the same time, the Ministry of Commerce is also carrying out a comprehensive clean-up of existing foreign investment regulations and coordinating the promotion of "abolition of the waste". "In this process, we will actively and conscientiously listen to opinions and suggestions from relevant parties such as foreign-invested enterprises."
He Weiwen pointed out that as a basic law in the field of foreign investment, the Foreign Investment Law is a superior law. The upper law governs the lower law, the lower legal regulations, and the government policies. This requires a step-by-step process. The foreign investment law is not The end, but the beginning of a series of changes."
He said that the legislation has widely listened to the opinions and suggestions of European and American companies, responded to their reasonable demands, and more importantly, this is also the objective need of China's new round of high standards and high levels of opening up.
Wei Jianguo, deputy chairman of the China International Economic Exchange Center and former deputy minister of the Ministry of Commerce, recently told the 21st Century Business Herald reporter that there was a previous view that it is not necessary to separately formulate a Foreign Investment Law for foreign investment. This is a wrong view.
"Overseas investment has greater risks. Foreign investors need a stable law to protect their asset security, personal safety, and financial liquidity rights. The Foreign Investment Law is actually a foreign investment 'protection law'. It emphasizes the meaning of protection."
He said that before the local government introduced a series of preferential policies for attracting investment, these policies were differentiated and selective. The formulation of a unified national law will protect foreign investment in the form of law. Compared with the arbitrariness and opacity of local governments, the legal recognition can avoid many unnecessary disputes of “new officials ignore old accounts†and eliminate them. There are many hidden dangers that increase the openness, transparency and predictability of the Chinese investment environment.
Wei Jianguo believes that the "Foreign Investment Law" blew the charge of China's transition from the openness of goods and factors to the opening of rules and other institutional types.
In terms of foreign trade, China's imports and exports increased by 0.7% year-on-year in the first two months of this year. However, in terms of US dollars, China's total import and export value fell by 3.9% in the first two months of this year.
Gao said that the decline was mainly due to the influence of the Spring Festival. Foreign trade enterprises have experienced the business characteristics of “concentrating exports before the holiday and importing after the holidays†around the Spring Festival. From the historical data, the import and export of the Spring Festival has a certain fluctuation. This year's Spring Festival is 11 days earlier than last year, and New Year's Eve to 15th is in February, causing the influence of the Spring Festival to appear in February.
He pointed out that Sino-US economic and trade friction is also one of the factors influencing the decline of data. "According to our understanding, in the second half of last year, some enterprises considered the possible impacts, concentrated import and export, and prepaid the share of imports and exports to the United States in the first two months of this year."
Gao pointed out that from the current situation, China's import and export growth rate has rebounded in early March, and China's foreign trade import and export is expected to remain stable in the first quarter of this year. From the whole year, although the external environment of China's foreign trade development is uncertain and unstable, the endogenous power is still growing.
"Next, we will continue to promote the implementation of the stable foreign trade policy, strengthen relevant policy reserves, and at the same time, promote market externalization through measures such as diversifying the market, supporting new formats such as cross-border e-commerce, and accelerating the level of trade facilitation. In the quality," said Gao Feng.
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