U.S. President Barack Obama has urged China to accelerate measures to tackle overproduction of industrial goods, BBC News reports.
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Premier Li Keqiang’s meeting with top executives in NY will help to push forward China-US economic relations, including ongoing negotiations on bilateral investment, experts said.
Besides, China has become one of the first countries to deposit instruments of joining the Paris Agreement on climate change, Li said.
Though the premier didn’t give a specific timetable, trade groups have previously said imports may resume before the end of the year.
Yuan Zheng, an expert on Sino-US relations from the Chinese Academy of Social Sciences, said harsh criticism and accusations towards China from Clinton and Trump would of course impact relations with China, but campaign words could not be regarded too seriously, as they do not necessarily turn into policies.
China is still working to improve its business environment for foreign enterprises, Li added.
Noting the important contributions of the economic relationship to the broader bilateral relationship and to the global economy, the President and Premier Li discussed China’s transition toward a more sustainable consumption-driven economic growth model.
He also said that China has attached importance to and actively joined in the efforts to resolve the crisis.
Obama expressed his support for China’s reform process and hoped the two sides could make further progress in bilateral investment treaty negotiations.
China has promoted a “going global” campaign for the renminbi for years, said Guo Tianyong, director of the Chinese banking industry research center at Central University of Finance and Economics in Beijing.
On Tuesday, Li spoke at a business dinner in NY and responded to complaints from foreign business leaders about restricted access to the Chinese market by saying that China was open to foreign investment, although some economic sectors were not yet mature.
He also said that China, as a firm defender of free trade, will continue to promote free trade within the Word Trade Organization framework.
“I heard that it is managed by an American company”, he added.
“Premier Li’s wonderful answers to the questions have given us an excellent overview to your government’s thinking on a range of critical policy issues”, said Carla A. Hills, chair of the National Committee on US-China Relations.
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“We look forward to much more collaboration in the days, weeks and months ahead”, Hills said after listening to the premier at the welcoming dinner party.
