Xinhua News Agency, Beijing, April 9 (Xinhua) The State Council Information Office issued the white paper “China’s Position on Several Issues Concerning China-US Economic and Trade Relations” on the 9th. The full text is as follows:
China’s position on several issues concerning Sino-US economic and trade relations
(April 2025)
People’s Republic of China
State Council Information Office
Table of contents
Preface
1. The essence of Sino-US economic and trade relations is mutual benefit and win-win results
(I) China and the United States are important goods trading partners
(II) China-US service trade maintains rapid growth
(III) China never deliberately pursues trade surplus
(IV) China and the United States are important two-way investment partners
(V) Both China and the United States benefit from bilateral economic and trade cooperation
2. China conscientiously implements the first phase of the Sino-US economic and trade agreement
(1) Continuously improve intellectual property protection
(II) Forced technology transfer is prohibited
(III) Expand market access for food and agricultural products
(IV) Expand market access for the financial services industry
(V) Maintain the RMB exchange rate basically stable at a reasonable equilibrium level
(VI) Actively expand the scale of trade
(VII) Maintain pragmatic communication with the US side on matters of the agreement
3. The US side violates the obligations of the first phase of the Sino-US economic and trade agreement
(1) The promise of the agreement technology transfer chapter has not been implemented
(II) The agreement on the food and agricultural product trade seal commitments have not been fully implemented
(III) The agreement’s financial services and exchange rate related commitments have not been fully implemented
(IV) No reasonable conveniences are provided for China to expand procurement and import
4. China practices the concept of free trade and strictly abides by the rules of the World Trade Organization
(1) Comprehensively strengthen trade policy compliance work
(II) Effectively fulfill the tax reduction commitment of joining the World Trade Organization
(III) Provide subsidies in compliance with and reasonable compliance within the scope of World Trade Organization rules
(IV) Continuously optimize the business environment
V. Unilateralism and protectionism harm the development of bilateral economic and trade relations
(I) Abolishing China’s permanent normal trade relations status damages the foundation of China-US economic and trade relations
(II) The US’s generalization of national security concepts hinders normal economic and trade cooperation between the two countries
(III) The US abuses export controls to undermine global supply chain stability
(IV) The US 301 tariff measures are typical unilateralism
(V) The US 232 investigation violates multilateral economic and trade rules
(VI) The US illegally abuses trade relief measures to increase trade uncertainty
(VII) The US’s economic and trade restrictions on China on the grounds of fentanyl will not help solve the problem
(8) The US imposes so-called “reciprocal tariffs” to harm others and themselves
6. China and the United States can resolve economic and trade differences through equal dialogue and mutually beneficial cooperation
(I) Equal dialogue should be the basic attitude of solving problems among major countries
(II) Mutually beneficial cooperation is conducive to China and the United States achieving their respective development goals
(III) The world expects Sino-US cooperation to bring more development opportunities
Conclusion
Preface
China is the largest developing country in the world and the country with the highest annual contribution rate to world economic growth. The United States is the largest developed country in the world and has the largest economic size in the world. China-US economic and trade relations are of great significance to both countries, and also have an important impact on global economic stability and development.
In the 46 years since the establishment of diplomatic relations between China and the United States, bilateral economic and trade relations have continued to develop. China-US trade volume jumped from less than US$2.5 billion in 1979 to nearly US$688.3 billion in 2024. The scope of China-US economic and trade cooperation has been continuously expanded and its level has been continuously improved, making important contributions to the economic and social development of the two countries and the improvement of people’s well-being.
However, in recent years, the rise of unilateralism and protectionism in the United States has seriously interfered with the normal economic and trade cooperation between China and the United States. Since the Sino-US economic and trade frictions in 2018, the US has imposed high tariffs on more than US$500 billion of Chinese products imported to the US and continues to introduce policies to curb and suppress China. China has to take strong response measures and resolutely defend national interests. At the same time, China has always adhered to the basic position of resolving disputes through dialogue and consultation, carried out multiple rounds of economic and trade consultations with the United States, and strived to stabilize bilateral economic and trade relations.
On January 15, 2020, China and the United States signed the “Economic and Trade Agreement between the Government of the People’s Republic of China and the Government of the United States” (i.e. the first phase of the Sino-US economic and trade agreement). After the agreement came into effect, China upholds the spirit of contract and strives to overcome the impact of the sudden impact of the epidemic and the subsequent supply chain obstruction and global economic recession, and promotes the implementation of the agreement. The US has issued statements many times, affirming the effectiveness of China’s implementation of the agreement. In contrast, the US has continued to tighten export controls and impose sanctions on Chinese companies, which has violated its agreement obligations several times.
The US has recently released the “US First” trade and investment policy memorandum and the “US First” trade policy report, levied additional tariffs on Chinese products, including imposing tariffs on China on the grounds of fentanyl and other issues, and further imposing 50% tariffs. It also proposed 301 investigation restrictions on China’s maritime, logistics and shipbuilding industries, including charging port fees. These restrictive measures threatened and threatened by tariffs and other factors are wrong and wrong, which once again exposes the typical unilateralism and bullying nature of the United States. They not only violate the laws of the market economy, but also run against multilateralism, and will have a serious impact on China-US economic and trade relations. China has taken necessary countermeasures in accordance with the basic principles of international law and laws and regulations.
The tariffs and other economic and trade restrictions adopted by the United States on its trading partners have artificially cut off the original mature global supply chain industry chain, and the market-oriented free trade rules have been broken. The economic development of various countries has been seriously disrupted, harming the welfare of people of all countries, including the United States, and harming economic globalization.
China has always believed that the essence of China-US economic and trade relations is mutual benefit and win-win results. As two major countries with different development stages and different economic systems, it is normal for China and the United States to experience differences and frictions in economic and trade cooperation. The key is to respect each other’s core interests and major concerns, and find a proper solution to the problem through dialogue and consultation.
In order to clarify the facts of China-US economic and trade relations and clarify China’s policy position on related issues, the Chinese government specially issued this white paper.
1. The essence of Sino-US economic and trade relations is mutual benefit and win-win results
2. China conscientiously implements the first phase of the Sino-US economic and trade agreement
3. The US side violates the obligations of the first phase of the Sino-US economic and trade agreement
4. China practices the concept of free trade and strictly abides by the rules of the World Trade Organization
V. Unilateralism and protectionism harm the development of bilateral economic and trade relations
6. China and the United States can resolve economic and trade differences through equal dialogue and mutually beneficial cooperation
Conclusion
History shows us that if China and the United States work together, both will benefit, and if both fight, both will suffer. Strengthening cooperation between China and the United States is in line with the expectations of the whole world. To achieve faster development of the world economy, it requires a fair, open, transparent and rules-based world market. Without Sino-US cooperation, such a world market will be difficult to form. International trade rules need to be constantly updated to adapt to changes in the world economy, and also require guidance on Sino-US cooperation. New technologies and products such as artificial intelligence, biotechnology, and quantum computing are constantly emerging and iteratively updated. To prevent and control potential security risks and ensure that technology is peacefully used without being abused, it is necessary to cooperate between China and the United States to establish relevant rules and orders.
There is no winner in the trade war, and there is no way out for protectionism. China and the United States have achieved success, which is an opportunity rather than a threat to each other. We hope that the US and China will move towards each other, follow the direction pointed out by the call between the two heads of state, and follow the principles of mutual respect, peaceful coexistence, and win-win cooperation, and resolve their respective concerns through equal dialogue and consultation, and jointly promote the healthy, stable and sustainable development of China-US economic and trade relations.
①: In the process of calculating the dumping volume (the difference between export price and normal value), only positive values are taken, and all negative values are treated as zero and do not offset with the positive values. Compared with normal practice, “zero” often significantly increases the calculation results of dumping volume, thereby increasing the dumping range and anti-dumping tax rate.
[Editor in charge: Cao Jing]
