CCTV News: Many experts and industry insiders said that the two major economies of China and the United States not only play an important role in the global supply chain, but also highly complementary in many fields such as high-tech, intelligent manufacturing, medicine, agriculture, etc., and have deep integration of interests.
Experts said that in the past decade, the scale of US investment in China has continued to expand. According to data from the U.S. Bureau of Economic Analysis, from 2012 to 2023, the scale of US direct investment in China rose from US$53.6 billion to US$126.9 billion, with an average annual growth rate of 7.8%, which is faster than the growth rate of US foreign direct investment. The investment structure is also constantly being optimized. From 2013 to 2023, among the US manufacturing investment in China, the computer electronics manufacturing industry and the transportation tool manufacturing industry increased by 2.6 times and 2.7 times respectively. Experts said that in the context of economic globalization, open cooperation in supply chains has become an inherent demand for enterprises, and the supply chains of China and the United States are deeply nested in both traditional and emerging industries.
Luo Zhenxing, director of the Economic Department of the American Institute of the Chinese Academy of Social Sciences, said that the supply chains of new energy vehicles, pharmaceutical industries, information and communication industries, as well as agricultural industries, etc. are basically almost all industries, China and the United States are closely integrated. 90% of American mobile phones are imported from China, and 80% of consumer electronics and TVs are imported from China.
Industry insiders believe that looking forward to the future, China and the United States will complement each other's comparative advantages and the space for economic and trade cooperation is still broad.
Xue Xiaoyan, associate researcher at the Decision-making Consulting Department of the China Institute of Macroeconomics, said that in the context of high inflation and weak global growth in the United States, the United States' own prices cannot be separated from the help of "Made in China", and global economic growth cannot be separated from the stabilizer of the Chinese economy.
Zhao Ping, director of the China Council for the Promotion of International Trade, said that the Chinese market is very open and has launched the first negative list for cross-border service trade for the first time, and further shortened the negative list for foreign access. In the manufacturing sector, the negative list of foreign access has been cleared. For foreign-funded enterprises, it is very convenient to come and invest.
