China and the United States can be a backbone of global stability in case of successful cooperation, and confrontation between the two countries may be disastrous, Chinese President Xi Jinping told a solemn reception in Seattle organized by National Committee on United States-China Relations and US China Business Council.
“If China and the United States cooperate, they can become a backbone of international security,” Xi said. “If they have to enter a conflict or a confrontation, it will lead to disasters for both countries and in the rest of the world,” he warned.
Continuing reforms
China will not abandon the path of reforms and will step up efforts to develop an open economy, Xi said.
“China will not turn back in this process,” Xi said. “Our top priority is gradual development. The aim is prosperity of the people,” he added. The Chinese authorities are currently completing the fulfillment of “construction of a prosperous society and country.”
The Chinese leader said that Beijing has enough “decisiveness to move forward on the path of reforms.” He said that there are certain difficulties in this sphere, and “considerable pressure has to be overcome.”
Xi also touched upon the issue of supremacy of law and securing equal competitive conditions for local and foreign companies. “China observes non-discriminatory principles in business and stimulates foreign investors to cooperate with China,” he noted.
State of economy
China’s economy will continue steady growth and fast development, the Chinese leader said.
“The Chinese economy will stay on steady course with relatively fast growth,” Xi said. “Its indicators are currently at the satisfactory level. The growth in the first half of 2015 stood at seven percent. Its growth rates are one of the largest in the world. It is not easy to achieve, considering the complicated situation in the global economy,” the Chinese leader noted.
“The economies of all countries currently face difficulties. Ours is also under pressure,” Xi continued noting that he is confident these difficulties will be overcome. The president stressed that there is a “great opportunity for development in the sphere of services” in China’s economy.
“China will mostly focus on increasing quality and effectiveness of economic growth,” the Chinese leader said. He stressed that “emphasis will be made on growth stimulated by innovation and consumption.”
Yuan rate
China’s economy will continue steady growth and fast development, Xi continued.
“The Chinese economy will stay on steady course with relatively fast growth,” he said. “Its indicators are currently at the satisfactory level. The growth in the first half of 2015 stood at seven percent. Its growth rates are one of the largest in the world. It is not easy to achieve, considering the complicated situation in the global economy,” the Chinese leader noted.
“The economies of all countries currently face difficulties. Ours is also under pressure,” Xi continued noting that he is confident these difficulties will be overcome. The president stressed that there is a “great opportunity for development in the sphere of services” in China’s economy.
“China will mostly focus on increasing quality and effectiveness of economic growth,” the Chinese leader said. He stressed that “emphasis will be made on growth stimulated by innovation and consumption.”
Cybersecurity
China is ready to cooperate with the United States in cybersecurity, Xi Jinping stressed.
“China is ready to establish together with US a joint mechanism of dialogue at the high level on issues of fighting against cybercrime,” Xi said. He noted that “China firmly defends security in cyberspace” and is often subjected to cyberattacks.
“The Chinese government will never be involved in any type of commercial espionage and will not encourage anyone else to carry out such actions, the Chinese leader noted.
“All cases of commercial cyber espionage and hacker attacks against governmental electronic networks are crimes that need to be punished in accordance with law and existing international agreements,” the president stressed. “The international community should work together on the basis of mutual respect and trust to create peaceful, safe, open and joint cyberspace,” Xi said.
New model of international relations
China considers the peaceful way of development “the right path” and is ready to cooperate in creating a “new model” of relations between the great powers, the president emphasized.
China and US “should understand correctly the strategic intentions of each other” and “seek to develop mutually beneficial cooperation,” Xi said.
The Chinese president said he hopes for the soonest development of the bilateral agreement with US on investment stressing that the Chinese people “always appreciated the American spirit of entrepreneurship.”
A total of 800 politicians and representatives of business circles were invited to the event, including former US State Secretary Henry Kissinger and US Secretary of Commerce Penny Pritzker.
The city of Seattle in the Washington state is the first stop of Xi’s visit to the United States. The Chinese president will meet with heads of America’s largest companies, including Apple, Microsoft, Boeing and others. The Chinese delegation also includes representatives of 15 largest companies, most notably Alibaba Group, Tencent, Lenovo, ICBC bank and Bank of China.