Remarks by Chinese Consul General in Chicago Wang Baodong at the U.S.-China Soybean Industry Partnership Breakfast
Distinguished guests, Ladies and Gentlemen,
Good morning!
It gives me great pleasure to join friends, both old and new, to attend the U.S.-China Soybean Industry Partner Breakfast, to exchange views on issues of mutual interest. On behalf of the Chinese Consulate General in Chicago, I would like to particularly extend my warmest welcome to the representatives of Chinese companies who have traveled afar from China to participate in today’s event.
Today, August 7, marks the Start of Autumn (Liqiu), one of the 24 solar terms in China. For farmers, this is a crucial period that not only signals the time for harvesting crops but also serves as an optimal juncture for planning agricultural trade. Therefore, this partners’ breakfast meeting is perfectly timed. For many years, soybeans have served as an important bridge in China-U.S. agricultural cooperation, and soybean trade has been a cornerstone of the broader bilateral economic and trade relationship. China is home to the world’s biggest market for agricultural products, while the U.S. is a top agricultural producer and the largest exporter. High-quality U.S. soybeans can help meet the growing demand of Chinese consumers, while the Chinese market generates income and supports jobs for American farmers and rural communities. China-U.S. agricultural cooperation used to enjoy “good old days”. According to statistics released by the General Administration of Customs of China, China’s imports of U.S. agricultural products reached a record high of $40.9 billion in 2022, and Soybeans alone accounted for $17.8 billion—nearly half of China’s total agricultural imports from the U.S.—setting a historical record by far. Even according to statistics from the U.S. Department of Agriculture, which placed total U.S. agricultural exports to China and soybean exports at $4.5 billion and $1.4 billion lower than the Chinese figures respectively, 2022 still marked the highest level ever for U.S. agricultural and soybean exports to the Chinese market.
Regrettably, however, the “good old days” came to an abrupt halt last year. The U.S.government launched the tariff and trade war against China, and China was compelled to take necessary countermeasures. As a result, soybean trade between our two countries was disrupted for a period of time, and American farmers became a victim and bore much of the cost, which was never an outcome China wished to see. Encouragingly, the summit meeting between our two Presidents in Busan last October put the bilateral relations back on the right track. Economic and trade cooperation regained positive momentum, and the soybean trade resumed. This tortuous experience once again shows that unilateralism and protectionism serve no one’s interests, and there are no winners in tariff or trade wars. Equality, mutual respect, and mutual benefit remain the right way for China and the U.S. to get along with each other and achieve win-win cooperation.
Ladies and gentlemen,
This year is a big year for China-U.S. relations. President Xi Jinping and President Donald Trump held a successful summit meeting in Beijing in May and agreed to build “a constructive China-U.S. relationship of strategic stability”, providing strategic guidance for the future development of the most important bilateral relations in the world and charts the course for closer exchanges and cooperation between the business communities of our two countries. The two Presidents also agreed that President Xi will pay a state visit to the United States this fall. The diplomatic, economic, and trade teams of both sides are actively making preparations for the visit. We are confident that this landmark visit will inject more impetus into the continued growth of China-U.S. relations.
This year is also a major year on the domestic political calendars of both China and the United States. In July, the U.S. celebrated the 250th anniversary of its founding, while the Communist Party of China marked its 105th anniversary. These two important milestones reflected the remarkable histories and development journeys of our two countries. Although China and the U.S. have different national conditions and governance systems, our people share common aspirations for a better life, social stability, and economic prosperity. As President Xi Jinping pointed out, the realization of the great rejuvenation of the Chinese nation and the vision of “Make America Great Again” can go hand in hand and achieve mutual success. President Trump also stated that China is America’s biggest partner, and that by working together, the two countries can accomplish many great things in the world and achieve greater success through future cooperation. Our two sides should work together to translate the important common understandings reached by the two Presidents into concrete actions, expand the cooperation list, shorten the negative list, and properly handle sensitive issues, particularly the Taiwan question, so as to bring greater benefits to both countries and contribute to a better world.
Ladies and gentlemen,
This year also marks the beginning of China’s 15th Five-Year Plan period. China is firmly advancing high-quality development and high-standard opening up, while continuing to improve its business and investment environment. As the living standards of the Chinese people continue to rise, China’s demand for agricultural products from around the world, including the U.S., will continue to grow. The prospects for high-quality U.S. soybean exports to China remain promising. However, at the same time, it is disturbing that the U.S. side continues taking measures to create obstacles to China-U.S. economic and trade cooperation. In particular, overstretching the concept of national security and the excessive application of restrictive and discriminatory measures against Chinese companies’ agricultural investment and technological cooperation in the U.S. are harmful to stronger agricultural collaboration between our two countries, which has continued to cast a shadow over the bilateral agricultural trade. What is worse is that anti-China forces label China as an adversary and view it as a threat. That is fundamentally wrong, and we cannot turn a blind eye to it.
Currently, China-U.S. economic and trade ties are navigating a landscape of both opportunities and challenges. In May, the economic and trade teams of our two countries reached positive understandings on addressing certain non-tariff barriers and market access issues related to agricultural products. The two sides agreed in principle to include relevant agricultural products in a framework arrangement for reciprocal tariff reductions and set guiding objectives for expanding two-way agricultural trade. Under the new circumstances, China-US agricultural trade cannot return to the past, but it can have a better future. Our two sides should uphold openness and cooperation, say a clear “no” to political manipulation and attempts at decoupling and disrupting supply chains, and work together to create a fair, transparent, and predictable policy environment for strengthening agricultural trade. It is sincerely hoped that the USSEC and other agricultural organizations will continue to serve as bridges between our two countries, actively participate in the China International Import Expo (CIIE) events, and bring more Americans from diverse backgrounds to visit, explore and know better about China. Let’s work together, and jointly write a new chapter in China-U.S. agricultural partnership.
Thank you!
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