The global economy calls for mutual respect and win-win cooperation
However, the ever-growing cooperation between China and Israel is not insulated from external factors.
By H.E. ZHAN YONGXINEconomy(photo credit: Courtesy)
We decided to establish the Innovative Comprehensive Partnership, linking our growth strategies by the keyword “innovation” and leading the two old civilizations into an encouraging new journey. In 2014, the bilateral trade stood at $10.9 billion. This year, defying all odds in the global economy and geopolitics, our trade maintained the momentum of growth and is expected to increase over $14 billion. China’s investment in Israel’s innovation industry and infrastructure projects has also jumped to a high level.However, the ever-growing cooperation between China and Israel is not insulated from external factors. For example, many Israeli friends have been asking about the trade relations between China and the US. Here, I have good news to share with you.Earlier this month, China and the US have agreed on the text of the phase-one economic and trade agreement. Last Friday, President Xi Jinping and President Donald Trump held telephone talks and affirmed the significance of this deal. Facing the extremely complex international landscape, the deal benefits both China and the United States, and will contribute to the peace and stability of the entire world. The international markets have responded very positively on this latest development of the two largest economies in the world.Modern economy and technology have integrated the world as a community of shared future. Countries are too deeply intertwined to be separated. In particular, the Chinese economy, the largest engine of global growth, has already woven into the international economic structure. It is impossible and highly consequential if anyone attempts to demonize China and decouple China from the global industrial chain, supply chain and value chain.We believe that, in today’s world, the right choice to move on is cooperation. And it is only natural that countries may encounter some disputes along the process. However, as long as we stay committed to the win-win principle and respect each other’s dignity, sovereignty and core interests, we can definitely overcome the difficulties.The phase-one economic and trade agreement, including purchasing more goods from the US, is in line with World Trade Organization (WTO) regulations as well as market rules and business principles. The Chinese government will continue to work with all parties to uphold the multilateral free trade system with WTO at its core.Moreover, China will continue to deepen all-round reforms and upgrade its opening-up level. Following the general manufacturing industries, we are steadily promoting the opening-up of service sector. The Foreign Investment Law and its matching regulations will enter into force in a week’s time. The pre-entry national treatment for foreign businesses is being applied nationwide. To all those who wish to have a share in China’s growth, you will find a more balanced, more transparent and more accessible business environment.China will stay as a reliable partner for the world, and we are ready to grow together with Israel as well as any other countries that wish to cooperate for the mutual benefits. I have every confidence that China-Israel Innovative Comprehensive Partnership will deliver more concrete results in the future.The writer is the outgoing Chinese Ambassador to Israel.
