Bilateral relations between China, US encouraged in wake of pandemic

China and the United States should take the opportunity to fulfill the phase-one China-US economic and trade agreement to enhance cooperation and remove destabilizing factors to boost bilateral economic and trade ties, the Ministry of Commerce said on Thursday.

Against the background of the ongoing pandemic and dropping bilateral trade volume in recent years, China and the US must avoid adopting new restrictions on trade and investment activities and jointly promote the healthy and stable development of bilateral economic and trade relations, said Gao Feng, the ministry's spokesman.

He added it is of utmost importance for the two countries to maintain economic stability in supporting the global economy and breaking away from the impact caused by the epidemic as early as possible.

Despite trade frictions and tariffs, China is still a main market for US exporters, reflecting the important commercial opportunity it presents to US businesses, according to The "2020 State Export Report" released by the US-China Business Council earlier this month.

China remained a top five goods export destination for 42 states in 2019. Many states generate substantial economic value from service exports, from licensing royalties to tourist spending, according to the Washington-based trade and investment promotional agency.

The US mainly exported aerospace products and parts, semiconductors and components, and oilseeds and grains to China in 2019, data from the General Administration of Customs showed.