China-US economic, trade relations mutually beneficial, win-win in nature: white paper

BEIJING -- China-US economic and trade relations are mutually beneficial and win-win in nature, and cooperation benefits both sides while confrontation harms both, said a white paper released by China's State Council Information Office on Wednesday.

Maintaining the stable development of China-US economic and trade relations is in the fundamental interest of both nations and peoples, which is also conducive to global economic development, according to the white paper titled "China's Position on Some Issues Concerning China-US Economic and Trade Relations."

Noting that China and the United States are important partners of trade in goods, the white paper said the bilateral trade is highly complementary as the two countries play to their comparative strengths.

China never deliberately pursues a trade surplus, and the trade balance in goods between China and the United States is both an inevitable result of the structural issues in the US economy and a consequence of the comparative advantages and international division of labor between the two countries, the white paper said.

The white paper noted that trade in services between China and the United States has maintained rapid growth, while the two countries are important two-way investment partners.

As the two largest economies in the world, the economic and trade cooperation between China and the United States has generated substantial benefits for both sides, with enterprises and consumers in both countries reaping tangible benefits through bilateral trade and investment, according to the white paper.