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'Trade Wars Between US and China Can No Longer Continue' – Trade Specialist

© AP Photo / Ted S. WarrenChinese and US flags. (File)
Chinese and US flags. (File) - Sputnik International
Following the second round of talks on economy and trade, the US and China are aiming to strengthen mutual trade cooperation. Sputnik has spoken with Vice President of the Chinese Metallurgical Group Xu Xiangchun and general director of the Chinese Corporation Chengtong Holdings Group, Zhou Liqun about the recent development.

Xu Xiangchun believes that US-China cooperation is a win-win situation because it can promote the qualitative development of the Chinese economy and help US efforts to reduce the trade deficit.

"The trade war between the US and China can no longer continue, and that is very good news for us,” Vice President of the Chinese Metallurgical Group, Xu Xiangchun, told Sputnik. 

"Even if the trade contradictions between the countries break out again, I think they will in no way affect the trade and economic relations between Russia and China because the Russian-Chinese economic relations were, are and will be very good,” Xu said.

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Vice President of the People's Republic of China Wang Qishan, during the plenary session of the SPIEF, also said that China does not want a trade war with the US, because it will result in no winners. 

According to him, in the modern world, wars are a "zero-sum" game. The United States and China held a second round of trade negotiations on May 17-18, during which the countries reached a consensus on economic and trade issues, committing to avoid taking part in any trade wars.

Qishan said that both sides will strengthen their trade cooperation in areas such as energy, agricultural products, healthcare, high-tech products and finance.

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General Director of the Chinese Corporation Chengtong Holdings Group Zhou Liqun drew attention to the fact that despite the sanctions, a considerable number of well-known Western companies came to the SPIEF.

"Foreign investments come to Russia, which needs them. At present, Chinese investments come to Russia, because China needs assets and resources. We mutually complement each other. The European companies that came to SPIEF are in the same situation,” Zhou told Sputnik.

He went on to say that the investments in infrastructure or commercial real estate are based on conditions dictated by the modern market, and this is one of the reasons why they are investing in Russia. 

“On the other hand, at present the investment environment in Russia is gradually improving, foreign investors are developing confidence in Russia. Thanks to the policy that President Putin continues, as well as the course of the new government, which inspires confidence,” Zhou said.

SPIEF, held annually in Russia's second largest city of St. Petersburg, is a major global platform for communication between business representatives and the discussion of crucial economic issues.

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