How to reshape Sino-US economic and trade relations? Guan Tao's ten suggestions

　　China News Agency, Shanghai, October 29 (Reporter Xu Jing) How to reshape Sino-US economic and trade relations?

At the 2nd Sino-US Economic and Trade Forum of the European and American Alumni Association held in Shanghai on the 29th, Guan Tao, Chief Global Economist and Managing Director of Bank of China International Securities Co., Ltd., shared his ten suggestions during his keynote speech at the forum .

　　Guan Tao has long been engaged in research on currency convertibility, balance of payments, exchange rate policies, international capital flows and other issues. He has authored the "Four Steps" of the RMB exchange rate, "China Opportunity", "The Nature of Exchange Rates," "The Game of Exchange Rates," and "The Breakthrough of Exchange Rates". .

　　Guan Tao puts forward ten suggestions on how to reshape Sino-US economic and trade relations.

　　The first point is to strengthen macroeconomic policy coordination and jointly promote the recovery of the global economy after the epidemic.

　　In Guan Tao's view, reviving the economic recovery after the epidemic is a worldwide challenge, especially now that it is facing very real problems, that is, the interruption of the global supply chain, the obstruction of international logistics, and the emergence of swelling pressure, which will give various countries macro-control. Both have brought huge challenges, and there is a lot of room for cooperation between China and the United States in these areas.

　　The second point is to restart economic and trade negotiations and cancel additional tariffs.

　　The trade war is not a zero-sum game of whoever wins, but a lose-lose result.

In fact, China is working hard to improve the balance of Sino-US trade. "In August this year, many industry associations in the United States also proposed to the US government that additional tariffs on Chinese products should be removed as soon as possible. I think this is our next step. A very important starting point for Sino-US economic and trade cooperation." Guan Tao said.

　　The third point is to lift sanctions, strengthen cross-border regulatory cooperation, and treat Chinese companies fairly.

　　Guan Tao stated that the Chinese regulatory agency hopes to strengthen communication with the US on the regulatory issues of Chinese companies going public in the United States, and find proper solutions, and clearly stated that China supports domestic companies to use both the domestic capital market and the international capital market to achieve listing. After listing, it is necessary to comply with the laws and regulations of the place of listing as well as the laws and regulations of the place of operation.

On the other hand, in order to support innovation and development, China has also strengthened the protection of intellectual property rights in recent years.

　　Fourth, continue to promote the completion of the BIT negotiation of the bilateral investment agreement and deepen the economic and trade cooperation between the two countries.

To deepen the economic and trade cooperation between China and the United States, cooperation in the field of investment and financing should be further strengthened. This is also the general trend.

　　The fifth point is to actively promote people-to-people and cultural exchanges and increase normal exchanges between personnel between the two countries.

From a social perspective, it is also very important to strengthen mutual understanding, avoid misunderstandings, and deepen bilateral relations through cultural exchanges.

　　The sixth point is to strengthen China-US cooperation in the field of infrastructure construction.

　　China has some successful experiences in infrastructure construction.

Guan Tao believes that China is willing to share experience in this area with the United States and cooperate in capital and technology, and this is also in line with the current needs of the United States.

　　The seventh point is to further strengthen cooperation on climate issues.

　　Guan Tao researched and judged that this is where the differences between China and the United States are not significant. Cooperation in this area is not only beneficial to China and the United States, but is also of great benefit to the world's response to climate change.

　　The eighth point is to accelerate cooperation in the digital field and jointly participate in the formulation of international rules.

　　The development of digital economy and digital trade is in the ascendant, especially the impact of the epidemic has caused the phenomenon of social isolation. Guan Tao believes that there is greater room and potential for cooperation between China and the United States in the digital field. The formulation of international rules in economics, digital trade, etc., to improve global economic governance.

　　The ninth point is to improve the multilateral trading system and promote the reform of the WTO.

　　Guan Tao said that the current world economic environment has undergone great changes, and the multilateral framework also needs to keep pace with the times and carry out reforms and innovations. China is willing to work with the United States to promote and improve the current multilateral trade cooperation mechanism. This is also the next step for Sino-US economic and trade cooperation. An important point of cooperation.

China is now willing to contribute some good practices and good thinking to the reform of global economic governance.

　　The tenth point is to establish a regular dialogue and consultation mechanism on economic and trade issues to effectively manage and control differences in a timely manner, and to further give play to the role of economic and trade relations as a ballast and booster for Sino-US bilateral relations.

　　"Before 2015, I worked at the State Administration of Foreign Exchange. At that time, I was fortunate enough to participate in the Sino-US Economic Strategic Dialogue Mechanism established during the Obama administration. At that time, the two governments had specific consultations on some economic and trade issues between the two countries every year. As a witness, I think that the results of many consultations have played a very important role in promoting China's reform." Guan Tao said that everyone can exchange views, seek common ground while shelving differences, and jointly promote the further healthy development of Sino-US economic and trade relations.

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