Creating more global cooperation opportunities is new development pattern

China will further shorten the negative list for foreign investment, and promote the service sector to opening-up in an orderly manner, as well as push forward the negotiation and implementation of multilateral, bilateral and regional free trade agreements to create more cooperation opportunities for enterprises worldwide, China's Vice-Minister of Commerce Wang Shouwen said on Friday.

Wang said China's new development pattern is not an internal recycle by self-isolation and self-sufficiency; instead, it is a dual-circulation built on a high level of opening-up.

China will continue to improve the legal system for foreign investment, strengthen policies to stabilize foreign investment, and further create a market-oriented, legalization and internationalization business environment, Wang said.

The latest "American Business in China White Paper" from AmCham China showed about half of US-funded enterprises believe China's investment environment is improving, as well as two-thirds of US enterprises view the country as a priority market and plan to increase investment to China in 2021.

Moreover, China appreciates AmCham China on clear opposition to full economic decoupling between the US and China, and hopes AmCham China and American entrepreneurs play an active role in pushing forward China-US economic and trade relations on the basis of equality and mutual interests.

Wang made the remarks at an online symposium with representatives from the American Chamber of Commerce in China, and AmCham China's member enterprises.

Greg Gilligan, chairman of AmCham China, affirmed China's progress on improving the business environment, strengthening the protection of intellectual property rights and opening-up the financial industry.

Gilligan also expressed the expectation from AmCham China's member enterprises to equal participation in dual-circulation construction, and hopes the two countries rebuild the communication mechanism, as well as strengthen cooperation in public health and climate change, to achieve mutual benefit and win-win results.