CRI听力:High-level seminar focusses on Sino-US frictions

A leading Chinese think tank has invited a group of former senior officials and business leaders from some of the world's top enterprises to a specially arranged seminar this weekend in Beijing, to share their thoughts on Sino-US trade tensions and economic development threats.

The two-day event kicked off on Sunday with the Chinese government and other delegates telling the outside world about how to deal with new challenges, including trade friction.

Former World Bank president Robert Zoellick praised China's 40 years of reform and opening-up, and he said that new initiatives such as the China-led Asia Infrastructure Investment Bank have been an example of corporate governance and transparency standards.

I know that China made great substantial commitment to market access, more than other developing countries. "

According to data released by China's statistics bureau on September 14, China's exports to the United States have held up despite US tariffs on 50 billion US dollars of Chinese goods.

After imposing 25 percent tariffs on 50 billion US dollars of Chinese goods, the Trump administration has yet to announce the imposition of additional tariffs on 200 billion US dollars worth of Chinese imports. The US has suddenly extended "olive branches" amid its ongoing and escalating tensions with China.

Former US Treasury secretary Robert Rubin calls for a rational mentality to deal with differences.

"While the United States and China certainly have differences and important difference. I think that once you recognize the catastrophic stakes in our relationship and not having a fair relationship that seems to me the countries should work together in a constructive context to deal with their differences."

A survey from AmCham China and AmCham Shanghai found that a large proportion of U.S. firms in China say the duties Trump placed on billions of dollars of Chinese imports this summer have hurt their businesses.

AmCham China President William Zarit says their survey also shows these damages are more from the US side.

3 out of 4 American companies are adversely affected by US tariffs, and maybe 60% are adversely affected by the Chinese tariffs. So, these companies, remember, these are folks doing business in China, are more adversely affected by the American tariffs than they are by the Chinese tariffs."

Zarit said U.S. business leaders in China want Trump to rethink the levies he has proposed on an additional $200 billion in Chinese imports, including many consumer goods.

He also points out just 6 percent of the US business in China would consider moving factories to U.S. soil, which is the original goal for implementing the tariffs.

The special session of the China Development Forum is hosted at the Diaoyutai State Guesthouse in Beijing.