Today the 19th meeting of Sino-U.S Joint Commission on Commerce and Trade (JCCT) is held in Nixon Library of Los Angles. Vice Premier Wang Qishan of the Chinese State Council co-chaired the meeting together with the US Secretary of Commerce Carlos Miguel Gutierrez and trade representative Susan Schwab. The US Secretary of Agriculture Ed Schafer also attended the meeting. The two sides exchanged in-depth views on topics of interest, reached wide consensuses and achieved major results.

They agreed to strengthen cooperation of the 12 working groups in such fields as intellectual property, product safety, agriculture, industry and information industry under the framework of JCCT, continue to properly address the economic and trade issues of common concern through consultations, launch the dialogue on information security products, hold the China-US seminar on postal reform and express delivery service and the meeting of standard and conformity assessment, continue with the “informal dialogues on iron and steel trade” and “dialogues on insurance”, faithfully implement the China-US Agreement on the Safety of Drugs and Medical Devices , strengthen supervision of bulk drug, exchange opinions on the national security scrutiny of foreign capital M&A at the China-US Investment Forum and cooperate in the fields of investment promotion, bio-energy, law enforcement training, food supplement, standard and conformity assessment and trade statistics. They also reached consensuses on the resumption of the export qualification of part US poultry meat and pork manufacturers to China and the elimination of the automatic detention of some Chinese aquatic products exported to the US.

Wang noted that it is of special significance to hold this year’s JCCT meeting in the library of Nixon, the former US President who opened the door for China-US relations, on the occasion of the upcoming 30th anniversary of the diplomatic ties between China and the US and the 25th anniversary of the JCCT. The leaders of both countries have been paying close attention to the development of the JCCT. The mechanism has become a major platform for the two countries to consult with each other on trade and investment and played a big part of pushing for solution of bilateral trade and economic problems and expanding economic and trade cooperation over the past 25 years. Following the principles of expanding cooperation, promoting development, easing contradictions and enhancing mutual trust, this year’s meeting highlighted cooperation from a long term perspective and achieved major results on the basis of equality and mutual trust.

He stressed that the trade and economic relations between China and the US are critical to both countries and the world at large. China is the largest developing while the US is the biggest developed country in the world. The two economies enjoy great complementarities and a solid foundation of cooperation. Today, uncertain and unstable factors in the world economy are on the rise and the international financial market continues to fluctuate. So it is more important to strengthen cooperation between China and the US than ever before. As the bilateral economic and trade partnership continues to expand and the cooperation is lifted to new levels, it is inevitable for both sides to encounter some problems. The two countries should further use the platform of JCCT to enhance mutual understanding through communications, broaden economic and trade cooperation and create enabling conditions in terms of legislation, system and mechanism for their businesses and markets to grow.

He added that economic and trade relations are a major part of the constructive partnership between China and the US. The bilateral economic and trade cooperation has experienced historic changes since the two countries established diplomatic ties 30 years ago with ever expanding bilateral trade volume bringing tangible benefits to their people. Both sides should carefully implement the consensuses reached between their leaders to continue to deepen the economic and trade collaboration and push for the constant progress of their constructive partnership.

Gutierrez noted that the US attaches great importance to the JCCT mechanism and is willing to deepen dialogue and cooperation with China under it, strengthen partnership and jointly create a beautiful future for bilateral economic and trade relations. Schwab said that the US and China almost had no trade relations at all when Nixon visited China. But today China has become the second largest trade partner of the US. The US is willing to use the JCCT mechanism to solve problems with China which have emerged in the process of broadening economic and trade cooperation and maintain the long-term stable development of bilateral economic and trade relations so as to benefit their people.

On behalf of the Chinese government, Wang expressed condolence and grief over the hurricane disaster hitting the US recently and the victims of the train crash in California.

After the meeting, Wang, Gutierrez and Schwab jointly met with the press and attended the signing ceremony of 5 agreements, MOU and exchange of notes between the two countries on food safety, medical equipment import credit, agricultural cooperation, digital TV promotion and trade statistics.

Also present at the meeting were Chinese Minister of Commerce Chen Deming, Minister of the General Customs Administration of China Sheng Guangzu, Chinese ambassador to the US Zhou Wenzhong and the heads of 22 departments of the Chinese foreign ministry.

Prior to the meeting, Wang visited Microsoft Corporation in Seattle, Washington State on September 14.