What significance does the strengthening of economic cooperation between China and the United States have on my country's economic development?

The significance of strengthening economic cooperation between China and the United States for my country's economic development:

Promoting strong, sustainable and balanced growth

1. In response to the challenges of the global economic situation , China and the United States committed to strengthening macroeconomic cooperation and working together to ensure continued recovery of the global economy, promote steady employment growth, and establish strong, sustainable and balanced global growth in the future.

Both sides agreed to adopt comprehensive policy measures to achieve more balanced trade and increase mutual investment. China is willing to increase imports from the United States, including commercial high-tech products.

2. China and the United States agreed to continue to exchange views on the development of European financial markets and discuss plans to support Europe in coping with its sovereign debt crisis through its own efforts.

3. The United States is rebalancing the economy toward sustainable growth by increasing domestic savings, committing to long-term fiscal sustainability, and investing in productivity-enhancing investments.

According to the fiscal year 2013 budget announced by President Obama, the United States has committed to reducing the fiscal deficit by more than $4 trillion over the next 10 years, including the $1 trillion reduction in discretionary spending identified last year, and will Starting from the middle of this decade, we will gradually reduce the proportion of debt in the economy.

4. The Chinese government is committed to improving people's livelihood, actively expanding domestic demand, and taking expanding consumption as a strategic focus.

In 2012, China will intensify its structural tax reduction policy, conduct pilot projects to replace business tax with value-added tax, adjust import tariff policies in a timely manner to increase consumption, promote the accelerated development of the service industry, and actively expand imports. Promote trade balance and meet people's living needs.

5. China and the United States reaffirmed the implementation of relevant G20 summit commitments, accelerated the promotion of a market-determined exchange rate system, enhanced exchange rate flexibility to reflect economic fundamentals, and avoided continued exchange rate imbalance and currency competitiveness. depreciation.

Both sides are determined to act in accordance with the commitments on exchange rate reform in the Action Plan for Growth and Employment to address short-term vulnerabilities, restore financial stability, and consolidate the foundation for medium-term growth.

These actions will help address the challenges posed by fluctuations in global liquidity and capital flows, thereby further promoting exchange rate reform and reducing excessive accumulation of foreign exchange reserves.

Promote cross-border trade and investment

6. China and the United States agree to strictly abide by WTO rules when initiating trade remedy investigations and implementing trade remedy measures to prevent their abuse.

7. China and the United States agree to share relevant information in their respective regional free trade agreements such as the Trans-Pacific Strategic Economic Partnership (TPP) and the China-Japan-Korea Free Trade Area Agreement.

8. China reiterates that the Chinese government’s policy stance of reform and opening up remains unchanged and will continue to welcome and encourage foreign investment. Technology transfer and technology cooperation are independent behaviors of enterprises, and the Chinese government will not use this as a prerequisite for market access.

9. The United States continues to support high-tech trade with China for civilian end-users and commercial items for civilian end-use. When Commercial Aircraft Corporation of China submits all the information required to apply for "verified end user" in accordance with relevant U.S. regulations, the U.S. government promises to accept the application in a timely manner.

10. The U.S. government is committed to promptly accepting specific requests from China for items that China wishes to purchase that may be subject to U.S. export controls.

11. China and the United States have decided to conduct dialogue on the investment policies, investment promotion and related practices of the two countries at the fifth China-US Investment Forum, including discussing issues in the infrastructure field.

The forum will be held in the United States before the next round of China-U.S. Strategic and Economic Dialogue. Officials from relevant provinces, states, prefectures and cities from China and the United States and business representatives will participate in the forum.

12. In the U.S. fiscal year 2013 budget, the U.S. government proposed to significantly expand the “Choose America Program” to promote foreign direct investment in the United States, including by devoting resources to attract Chinese investors and Provide investment facilitation and other measures.

As part of the above efforts, staff of the U.S. Department of Commerce’s Foreign Commercial Services Division in China will assume greater responsibility for promoting Chinese companies’ investment in the United States. In fiscal year 2012, China has become one of the top ten markets where the US Department of Commerce's Foreign Commercial Services Division focuses on strengthening communication with investors under the "Choose America Plan".

13. China and the United States recognize the potential for companies from both countries to play an active role in financing infrastructure in their respective countries. Both parties commit to explore opportunities to deepen cooperation in this area.

To this end, the Choose America program will assist China in establishing connections with U.S. state and local economic development agencies and other departments responsible for or involved in infrastructure financing.

14. The United States is committed to continuing to cooperate with China at the provincial, state and municipal levels to expand exchanges between the two peoples and increase trade and investment opportunities between the two countries.

15. In 2012, the U.S. visa processing capacity in China will be increased by 40% to ensure that 80% of non-immigrant visa applications are confirmed for interviews within 3 weeks of receipt. The United States will establish and maintain a public website with key information to assist industry and travelers in understanding visa procedures and entry times.

The United States will launch a pilot program to speed up the processing of non-immigrant visa applications for applicants, including the ability to waive interviews for certain very low-risk applicants.

During 2012, this policy can provide up to 100,000 interview appointments for Chinese travelers applying for visas for the first time. China and the United States decided to discuss various visa arrangements to facilitate personnel exchanges between the two countries on the basis of compliance with their respective laws and equality and reciprocity.

Promote the development of the financial sector

16. At present, China has decided to open compulsory traffic insurance to foreign-funded insurance companies. After completing the procedures such as revising relevant laws and regulations, it will be officially promulgated and implemented.

17. The United States welcomes foreign investment in all sectors, including the banking industry, and welcomes Chinese-funded banks that have been approved to open branches in the United States to conduct business in the United States.

The United States continues to commit to providing the same prudential regulatory standard treatment as other foreign banks under similar circumstances to applications from Chinese banks to open branches, sub-branches, or acquire equity interests in U.S. banking institutions.

Strengthening international cooperation

18. China and the United States agreed to hold two bilateral seminars to enhance the transparency of export credit agency projects of both parties and mutual understanding of each other's export credit agency projects.

The first meeting was held in early February. Senior technical experts from the US Treasury and Export-Import Bank, the Chinese Ministry of Finance, the Export-Import Bank, and China Export and Credit Insurance Corporation attended the meeting;

No. The second meeting will be held before the next round of China-US Strategic and Economic Dialogue and will be attended by senior policy officials and technical experts from both sides.

In addition, China and the United States will establish an international working group composed of major export finance providers to develop an international export credit system that takes into account different national interests and conditions and is consistent with international best practices. Make concrete progress on the guiding principles and strive to reach an agreement in 2014.

19. China and the United States commit to strengthening information sharing and cooperation to help ensure the smooth operation of global commodity markets and avoid significant price fluctuations.

The United States commits to informing China of the regulatory changes of the Commodity Futures Trading Commission and the availability of financial transaction data in the oil market. The two sides committed to strengthen communication on the oil market situation, including supply and demand conditions, strategic oil reserve management and cooperation with international energy agencies.

20. China and the United States recognize each other’s energy security and economic interests.

Extended information:

The content and significance of the China-US Strategic and Economic Dialogue:

Over the past 60 years since the founding of the People's Republic of China, especially since the reform and opening up, The face of China has undergone changes that have attracted worldwide attention. At the same time, we are also clearly aware that China is still the largest developing country in the world and must comprehensively build a higher-level moderately prosperous society that benefits more than one billion people.

There is still a long way to go before we can basically realize modernization and realize the common prosperity of all people. China will continue to adhere to reform and opening up and strive to make the economy more developed, democracy more complete, science and education more advanced, culture more prosperous, society more harmonious, and people's lives more prosperous.

China will continue to pursue a mutually beneficial and win-win opening strategy, expand market access in accordance with prevailing international economic and trade rules, support the improvement of international trade and financial systems, and promote trade and investment liberalization and facilitation.

China will accelerate the transformation of its economic development model, focus on expanding domestic demand and increase household consumption, actively promote the healthy and balanced development of foreign trade, and oppose all forms of protectionism.

China will continue to steadily advance the reform of the RMB exchange rate formation mechanism in accordance with the principles of initiative, controllability and gradualness.

China will continue to follow the path of peaceful development, develop friendly cooperation with all countries on the basis of the Five Principles of Peaceful International Cooperation, and will not interfere in the internal affairs of other countries or impose its will on others. Work together with other countries in the world to promote the building of a harmonious world with lasting peace, democracy, common prosperity and prosperity.

The first is to promote trade and investment cooperation, including promoting trade and investment cooperation in emerging industries; the second is to improve the financial system and strengthen financial supervision, mainly including financial industry reform and cross-border financial supervision cooperation.

The third is to promote structural adjustment and the transformation of development methods; the fourth is to promote strong, sustainable and balanced economic growth, mainly including the global macroeconomic situation and challenges, which will involve the European sovereign debt crisis, the impact of the situation in the Middle East and North Africa on the region and issues such as the impact on the world economy and natural disasters in Japan.

First, promote strong, sustainable and balanced growth. Mainly discusses global economic challenges, China-US fiscal and monetary policy outlook, economic interaction and impact between emerging economies and developed economies, Sino-US economic rebalancing, Sino-US economic structural adjustment, etc.

The second is to expand trade and investment opportunities. It mainly discusses promoting open trade and investment, multilateral trading system and regional trade arrangements, reforming international rules and global economic governance, promoting investment facilitation, encouraging innovation and competition, etc.

The third is financial market stability and reform. Mainly discussing the financial system that supports the development of the real economy, strengthening financial supervision and cross-border regulatory cooperation, cross-border capital flows and financial market access, oil price market supervision and global commodity market supervision, etc.

Baidu Encyclopedia-China-US Strategic and Economic Dialogue

Baidu Encyclopedia-China and the United States Joint Statement on Strengthening Sino-US Economic Relations