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Wang Yang, US Secretary of Commerce and US Trade Representative Co-chair the 27th China-US Joint Commission on Commerce and Trade

On November 23, 2016 local time, the 27th China-US Joint Commission on Commerce and Trade (JCCT) was held in Washington D.C.of the US from November 21 to 23. Vice Premier Wang Yang, Secretary of Commerce Penny Pritzker of the US and Trade Representative Michael Froman of the US co-chaired the meeting. Secretary of Agriculture Tom Vilsack of the US attended the meeting.

Wang Yang expressed that during their meetings in Hangzhou and Lima, President Xi Jinping and President Barack Obama reached important consensus on pushing forward the development of China-US economic and trade relations and charted the course for this year's JCCT. China is willing to make joint efforts with the US to earnestly implement the consensus reached by the two heads of state, broaden areas of cooperation, push for more results from bilateral cooperation in various fields such as two-way investment, intellectual property right, innovation policy, competition policy, standard setting, digital economy and food safety, properly manage and control differences, and expound to the outside community the connotations of a new model of China-US major-country relations featuring non-conflict, non-confrontation, mutual respect and win-win cooperation, so as to lay a solid foundation for the development of China-US economic and trade relations in the next year and beyond as well as show the effects and vitality of the China-US JCCT mechanism.

The US side said that since the establishment of the JCCT, it has played a positive role in promoting bilateral trade, expanding investment and resolving major concerns of the business circle. In recent years, both sides have reformed the JCCT mechanism and increased discussions on a series of cooperation activities and strategic issues, thus reaching a great deal of consensus. The US is willing to make use of the remaining time of the Obama administration to push for more practical results from bilateral economic and trade cooperation and lay a foundation for the smooth transition of US-China economic and trade relations after the change of administration in the US.

During the JCCT, China and the US held in-depth discussions on 12 key agendas concerning bilateral economic and trade relations, organized a series of cooperation activities including Business Luncheon, CEO Roundtable, Agriculture and Food Seminar and Digital Economy Seminar, held a strategic symposium on the digital economy, signed two cooperation documents, and reached a great deal of consensus. The two sides released the outcome list of the meeting.

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