Chinese Foreign Minister Wang Yi assured U.S. executives during a videoconference on Sunday that Beijing remained committed to the Phase 1 trade deal with the United States, the head of the US-China Business Council said.
“He definitely re-committed. On the Chinese side, it’s all systems go. They will fulfill their commitments”, – US-China Business Council President Craig Allen told Reuters on Monday.
Wang’s comments to the business group come amid recent moves by the government of outgoing U.S. President Donald Trump to crack down on Chinese military companies and box incoming President-elect Joe Biden into hardline positions on Beijing.
The US-China Business Council, which represents 240 companies doing business in China, said it was pleased with Beijing’s progress in implementing policy changes under the trade deal signed in January, although China had fallen short of targets for increased purchases of U.S. goods and services.
Pompeo said the NPCSC has effectively “neutered” the ability of people in Hong Kong to choose their elected representatives.
“These actions demonstrate once again Beijing’s complete disregard for its international commitments under the Sino-British Joint Declaration, a U.N.-registered treaty”.
Beijing’s action heightened alarm in the West. The Five Eyes intelligence-sharing group – comprised of Australia, Britain, Canada, New Zealand and the United States – said last month the move appeared to be part of a campaign to silence critics, and called on China to reverse course.
The sanctions announced by Washington prohibit the 14 individuals and their immediate members from traveling to the United States. Any assets the officials might have within the United States will be blocked and U.S. individuals and companies will be banned from dealing with them.
The news kept global markets on edge as investors fretted over fresh Sino-U.S. tensions, which offset bets over more stimulus in Europe and the United States.
China’s Wang vows to uphold trade deal during Biden administration: U.S. business group
