Address economic, trade issues through equal consultation for mutual benefit

On Sept. 14 and 15 local time, Chinese and U.S. trade teams held a new round of talks in Madrid, Spain. Guided by the important consensus reached by the heads of state of the two countries in their phone call, the two sides held candid, in-depth, and constructive discussions on economic and trade issues of mutual concern.

The two sides reached a basic framework consensus on resolving issues related to TikTok through cooperation, reducing investment barriers and promoting relevant economic and trade cooperation.

This once again demonstrates that with mutual respect and equal consultation, China and the United States can build consensus through dialogue and achieve win-win outcomes through actions.

Mutual benefit is the defining feature of China-U.S. economic and trade relations, and it provides the foundation for continued dialogue. From Geneva to London, and from Stockholm to Madrid, the two countries have deepened understanding and built consensus through equal dialogue, laying the groundwork for mutually beneficial outcomes.

During this round of talks, both sides recognized that a stable China-U.S. economic and trade relationship is of great significance to both countries and also has a major impact on global economic stability and development.

This is the shared understanding forged through rounds of consultations, and it reflects a deeper recognition of the mutually beneficial nature of China-U.S. economic and trade relations and its global significance. It provides a basis for further dialogue, a guide for addressing each side's concerns, and confidence for global economic development.

A major focus of the talks was the TikTok issue, and the progress made in seeking a cooperative solution was an encouraging step. China has always opposed the politicization, instrumentalization and weaponization of technology as well as economic and trade matters and will never seek to reach agreements at the expense of principles, interests of companies, or international fairness and justice.

During the talks, both sides reached a basic consensus regarding the full respect for the will of the business as well as the law of the market on resolving the TikTok issue through such methods as the entrusted operation of TikTok's U.S. user data and content security business, and the license for use of the algorithm and other intellectual property rights. This fully proves that coercion is not the way forward; only mutual respect and equal consultation can lead to win-win solutions.

The reason why the Chinese side agreed to a consensus is because, based on its assessment, China has come to the judgment that such a consensus is in their mutual interest. It demonstrates China's constructive and responsible attitude.

China will firmly safeguard the national interests, the legitimate rights and interests of Chinese enterprises, and carry out technology export approval in accordance with relevant laws and regulations. The Chinese government also fully respects the will of enterprises and supports them in conducting business negotiations on an equal footing in accordance with market principles.

The United States should act on the consensus reached, and provide an open, fair, just, and non-discriminatory business environment for the continued operation of Chinese enterprises, including TikTok. Both sides recognized the importance of a sound and stable China-U.S. economic and trade relationship and agreed to maintain close communication and move toward each other.

It must be noted that the U.S. side is still continuously expanding sanctions against Chinese entities after a series of economic and trade consultations between the two countries. The United States has overstretched the concept of national security, and continuously expanded the list of sanctions against Chinese entities, with its long arm of jurisdiction reaching ever farther, which are a typical act of unilateral bullying that violates international law and the basic norms governing international relations. China firmly opposes this, and raised serious concerns to the U.S. side during the talks.

The U.S. side cannot, on the one hand, ask China to take care of U.S. concerns, and on the other hand, continuously suppress Chinese enterprises. This is not how major countries should get along. If the United States takes actions that harm China's interests in a substantive way, China has ample means and tools to respond.

To safeguard the hard-won outcomes of bilateral consultations, the United States should lift restrictions as soon as possible, stop targeting Chinese enterprises, and act prudently, instead of attempting to form cliques for "collective bullying." All parties have a responsibility to safeguard the international trading system and the security and stability of global industrial and supply chains.

The best way to bridge differences and resolve issues is through equal dialogue and mutually beneficial cooperation. China and the United States should implement the important consensus reached by the two heads of state in their phone conversations as well as the outcomes of previous economic and trade talks, fully leverage the role of the China-U.S. economic and trade consultation mechanism, continuously enhance mutual understanding, resolve differences, strengthen cooperation, and strive for more win-win outcomes, so as to promote the healthy, stable and sustainable development of China-U.S. economic and trade relations, and inject greater stability into the world economy.

(Zhong Sheng is a pen name often used by People's Daily to express its views on foreign policy and international affairs.)