Both countries recognize and value the substantial contributions that the international financial institutions have made to global growth, higher incomes, the alleviation of poverty, and the maintenance of financial stability since their establishment. The United States has also benefited from the emergence of a global middle class that, byis projected to include more than 3 billion consumers in Asia alone. China has a strong stake in the maintenance and further strengthening and modernization of global financial institutions, and the United States welcomes China's growing contributions to financing development and infrastructure in Asia and beyond.
Both countries recognize and value the substantial contributions that the international financial institutions have made to global growth, higher incomes, the alleviation of poverty, and the maintenance of financial stability since their establishment.
The United States has also benefited from the emergence of a global middle class that, byis projected to include more than 3 billion consumers in Asia alone.
The international financial architecture has evolved over time to meet the changing scale, scope, and diversity of challenges and to include new institutions as they incorporate its core principles of high standards and good governance. Both countries are committed to supporting this international architecture and welcome the greater role of the G in global economic governance to ensure an inclusive, resilient, and constantly improving international economic architecture to meet challenges now and in the future.
The United States and China commit to strengthening and modernizing the multilateral development financing system. Both countries resolve to further strengthen the World Bank, Asian Development Bank, African Development Bank, and Inter-American Development Bank by enhancing their financial capacity, reforming their governance, and improving their effectiveness and efficiency.
Consistent with its development, in addition to being a shareholder and borrower, China intends to meaningfully increase its role as a donor in all these institutions. Both sides acknowledge that for new and future institutions to be significant contributors to the international financial architecture, these institutions, like the existing international financial institutions, are to be properly structured and operated in line with the principles of professionalism, transparency, efficiency, and effectiveness, and with the existing high environmental and governance standards, recognizing that these standards continuously evolve and improve.
China is to meaningfully increase its contributions to the MDB concessional windows, consistent with its capacity. Both countries commit that the MDBs should continue to explore options to increase their lending capacity, including through using existing resources, and regularly reviewing their capital with an assessment of whether a capital increase is warranted.
Both countries commit to continued efforts on MDB balance sheet optimization. Both sides also recognize that the middle income countries still face challenges in alleviating poverty and that the MDBs have a role in addressing those specific needs.
The United States commits to implement the IMF quota and governance reforms as soon as possible and reaffirms that the distribution of quotas should continue to shift toward dynamic emerging markets and developing countries to better reflect the relative weight of IMF members in the world economy.
The United States and China affirm the efforts of the IMF Executive Board to pursue an interim solution, which aims to converge quota shares to the extent possible to the levels decided under the 14th Review. However, the interim solution should not constitute or be seen in any way as a substitute for the reforms.
The United States and China commit to development finance cooperation in a third country through the multilateral development banks, respecting the ownership of the recipient countries.
China recognizes the importance to successful RMB internationalization of meeting the transparency standards of other major reserve currencies.
The United States and China look forward to continuing to discuss mechanisms to facilitate renminbi trading and clearing in the United States.
The United States and China welcome the important progress that has been made in the negotiation of new international guidelines on officially supported export credits since the establishment of the International Working Group on Export Credits IWG through a joint high level commitment in The United States and China reaffirm their support for IWG guideline coverage of official export credit support provided by or on behalf of a government, including, but not limited to, official export credit support provided by official export credit policy financial institutions, and look forward to further discussing the scope of the guideline coverage at the next IWG meetings in October.
The United States and China reaffirm that the guidelines should help ensure that governments complement commercial export financing, while promoting international trade. The two sides are committed to working closely with other G members i to strengthen macroeconomic policy cooperation to address the shortfall in global aggregate demand and the slow and uneven global recovery by promoting pro-growth fiscal and monetary policies, ii to increase potential growth rates through structural reforms and innovation, support a strong G trade and investment agenda, and promote international trade and investment as engines of global growth, iii to implement the Agenda for Sustainable Development, iv to enhance dialogue and cooperation on the policy framework for infrastructure lending, including on environmental standards, v to phasing out inefficient fossil fuel subsidies by a date certain, and vi to strengthen cooperation to assist at-risk states to prevent, detect and respond to infectious disease threats.
The United States and China recognize the positive progress of the ongoing bilateral investment treaty BIT negotiation.
The Leaders reaffirm as a top economic priority the negotiation of a high standard BIT that reflects a shared commitment to the objectives of non-discrimination, fairness, and transparency, that effectively facilitates and enables market access and market operation, and that represents on each side an open and liberalized investment regime.
Both sides commit to continue detailed and in-depth discussion of the export control issues of mutual interest within the U.The main theme of the meeting emphasized the issues regarding the de-nucleariziation on the Korean peninsula in addition to the stabilization of China–United States relations.
President Trump reiterated the importance of trade development between the two countries and reaffirmed the American support for the One-China policy. China is now the EU's second-biggest trading partner behind the United States and the EU is China's biggest trading partner.
The EU is committed to open trading relations with China. However, the EU wants to ensure that China trades fairly, respects intellectual property rights and meets its obligations as a member of the World Trade.
The United States has a services trade surplus of an estimated $ billion with China in , up % from Investment U.S. foreign direct investment (FDI) in China (stock) was $ billion in , a % increase from Recognizing the important role U.S.-China trade and economic cooperation is playing at the subnational level, the United States and China are to further the implementation of the Memorandum of Understanding (MOU) Between the Department of Commerce of the United States of America and the Ministry of Commerce of the People’s Republic of China.
U.S. trade in goods with China NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Details may not equal totals due to rounding. Trade relations are part of the EU's overall political and economic relations with United States The United States is a member of the World Trade Organisation Transatlantic cooperation in eHealth and Health information technologies.