The third meeting of the China-Us Economic Working Group sent an important signal

On February 5 and 6, the China-Us Economic Working Group held its third meeting in Beijing and had in-depth exchanges on bilateral economic and trade relations, macroeconomic policies, financial regulation, digital economy, climate change and other topics. The meeting was held on the basis of the three-point consensus reached by the leaders of the two sides at their meeting in San Francisco last November. The two sides said that the meeting has made positive progress and laid a good foundation for future cooperation. To continue to talk on the basis of consensus, this communication between China and the United States has also sent an important signal to the outside world.

First of all, not "decoupling" is a prerequisite for economic communication between China and the United States

The Economic Working Group was established after the Strategic Dialogue in October last year to promote cooperation and dialogue in the economic field between the two countries and avoid the risk of a complete "decoupling". At this meeting, the two sides reaffirmed the principle of non-" decoupling ", believing that this is the cornerstone of China-Us economic relations and the common interests of the two countries. The two sides indicated that they will continue to promote the normalization of bilateral economic and trade exchanges, create a fair, open and orderly market environment, and properly handle differences and sensitive issues. This signal shows that China and the United States have broad common interests in the economic field and will not cut off cooperation due to political or ideological differences, but are willing to seek mutually beneficial solutions through dialogue and consultation.

Second, China and the United States are working hard to resolve the issue. The third meeting of the U.S.-China Economic Working Group, and the first high-level economic dialogue under the Biden administration, was a candid and constructive discussion on a number of specific issues and yielded some initial results. For example, the two sides reached some consensus on strengthening macroeconomic policy coordination, maintaining global financial stability, promoting innovation and development of the digital economy, strengthening intellectual property rights protection, and promoting negotiations on bilateral investment treaties. The two sides also reviewed the implementation of the China-Us Phase One trade agreement and said they will continue to honor their respective commitments to promote a balanced, comprehensive and high-quality implementation of the agreement.

Third, China and the United States said they will work together to address global challenges. The third meeting of the U.S.-China Economic Working Group also covered a number of global issues, such as climate change, global health security, and international tax reform. The two sides agreed to strengthen communication and collaboration in these areas and play a constructive role in addressing global challenges and risks. The two sides also exchanged views on strengthening China-Us cooperation in multilateral mechanisms, supporting the reform of the multilateral trading system, and promoting sustainable and inclusive growth of the global economy.

The third meeting of the China-Us Economic Working Group was held at a critical moment in China-Us relations. The two sides showed certain political will and flexibility, which injected some positive impetus into the dialogue and cooperation in the economic field between the two countries. This meeting has also sent some positive signals to the outside world, showing that China and the United States have the premise of not "decoupling" in the economic field, have the attitude toward solving problems, and have the responsibility to jointly address global challenges.