Positive start for bilateral economic ties
A total of 10 initial targets have been achieved so far under the China-U.S. 100-day action plan in areas including agricultural products, investment, energy and financial services, Sun Jiwen, the spokesperson for the Ministry of Commerce (MOFCOM), told a briefing in Beijing on Thursday.
"The two countries are committed to carrying out the early goals and all relevant efforts are proceeding smoothly," Sun said.
For example, as part of the 100-day bilateral action plan, the U.S. has promised to issue regulations on the export of China-made chicken and poultry by July 16, while China has pledged to allow the import of U.S. beef by the same deadline, according to a statement on the website of the commerce ministry.
The General Administration of Quality Supervision, Inspection and Quarantine green lighted the import of U.S. beef on Tuesday, Sun said, noting that the first batch of U.S. beef is expected to arrive in Shanghai soon.
At the same time, the U.S. Department of Agriculture published a draft rule on the entry of China's poultry to U.S. market on June 15.
The draft will solicit public opinion for 60 days, according to Sun.
"It's a positive start for China-U.S. economic and trade relations under U.S. President Donald Trump's administration, especially at a time when the global economy has seen a rise in trade protectionism," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday.
Bai noted that improved bilateral economic relations "will be a boon for companies in related industries" to capitalize on ever increasing market demand.
At Alibaba's Gateway '17 Event held in Detroit, Michigan, from Tuesday to Wednesday, a number of U.S. farmers reportedly have successfully sold tons of cherries to Chinese consumers through Chinese e-commerce platforms.
The case provides insights on how improved economic relations between China and the U.S. can achieve a win-win situation, as the two nations' economies are mutually complemented, Bai said.
China and the U.S. are now negotiating other key issues of the bilateral action plan, Sun noted.
Bai predicted that some "difficult issues" such as China's further opening-up of its service sector to U.S. companies and the lifting of restrictions imposed by the U.S. government on high-tech exports to China will be discussed.