Chinese Ambassador to the U.S. Xie Feng reiterated China's position on economic cooperation during a May 3 speech at a cultural open house promoting northwest China's Gansu Province, emphasizing that Washington must demonstrate 'equality, respect, and reciprocity' to foster meaningful dialogue.
Addressing recent U.S. tariff increases, Xie stated China prefers negotiation over confrontation but remains prepared to defend international trade norms. 'No country thrives alone in today’s interconnected economy,' he noted, adding that 'barriers stifle shared growth.'
Xie highlighted mutual benefits in cross-Pacific trade, revealing that U.S.-owned enterprises in China generated over $400 billion more in revenue than their Chinese counterparts in the U.S. in 2022. He attributed the imbalance partly to America’s global leadership in finance and technology sectors.
Despite external challenges, China’s economy grew 5.4% in Q1 2024, with exports rising 6.9%. The country welcomed 64.88 million foreign visitors in 2023 – an 82.9% year-on-year increase – partly driven by relaxed visa policies. During the May Day holiday, inbound tourism bookings surged 173%.
Xie framed these developments as evidence of China’s expanding global partnerships: 'Our market offers unmatched opportunities. We’re committed to steady growth and further openness.' The remarks come amid heightened scrutiny of tariffs targeting green technologies and electric vehicles.
