Beijing, Washington hold candid exchanges during talks on economic and trade issues

As China and the United States held a new round of economic and trade talks in New York on Sunday, experts and business executives highlighted the importance of maintaining stability in bilateral ties and China's role in US companies' global growth strategies.

The Chinese delegation was led by Vice-Premier He Lifeng, while the US delegation was headed by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer.

According to a statement released on Monday by China's Ministry of Commerce, the two sides held candid, in-depth and constructive exchanges.

They shared views on important economic and trade issues of common concern, as well as the implementation of the points of consensus reached during the previous rounds of talks, the statement said, adding that the two sides also discussed artificial intelligence-related issues.

Scott Kennedy, senior adviser at the Center for Strategic and International Studies, a nonprofit policy research organization based in Washington, DC, said that both the US and China have a strong interest in maintaining stability in bilateral relations amid growing economic challenges.

Interdependence continues to shape US-China ties, with the two sides seeking ways to manage the relationship, he added.

For US companies with long-term operations in China, the country's vast market plays a key role in their global growth strategies.

Michael Gierges, president of climate solutions for the Asia-Pacific, Middle East and Africa at Carrier Global Corp, noted that China is no longer viewed merely as a regional market, but as a key driver of the US-based company's global growth strategy.

After launching a new air-cooled chiller production line at its facility in Shanghai in January, with an investment of more than 100 million yuan ($15 million), Carrier inaugurated an integrated commercial heating, ventilation and air-conditioning testing center in the same city in May.

Henry Ding, president for China at US industrial conglomerate 3M, said that no company can succeed alone in today's fast-changing market landscape. Win-win collaboration and industrial co-development are essential for long-term success, he added.

Statistics show that more than 50 percent of 3M's products sold in China are manufactured locally.

Ding said that 3M will further scale up local research and development investment this year and aims to increase new product launches by more than 30 percent compared with 2025, a pace much faster than in most other global markets.

John Quelch, executive vice-chancellor and distinguished professor of social science at Duke Kunshan University in Suzhou, Jiangsu province, said that AI and other technologies are helping companies respond more quickly to changes in demand, improve decision-making and make supply chains more responsive.

The US-China Business Council said it supports further dialogue on AI between the two countries.

In a statement released last week, the council said the US and China should create formal channels to discuss AI safety, consult on AI policies, manage significant AI incidents, and align on technical and evaluation standards.

At the same time, they should avoid measures that unnecessarily restrict market and supply chain access, it added.

zhongnan@chinadaily.com.cn