China can purchase more American products and create more business opportunities for the United States, Beijing's top envoy in Washington said on Monday, as bilateral trade, particularly US exports to the world's second largest economy, fall sharply this year.
"We need to deepen the integration of interests, and be partners helping each other succeed," Ambassador Xie Feng said.
"As China grows into the world's largest and most dynamic market, we are able to buy more products we need from the US and bring more business opportunities to the US," Xie said at a reception at the Chinese Embassy marking the 76th anniversary of the founding of People's Republic of China.
In his speech, Xie did not elaborate on the status quo of bilateral trade but cautioned that facts have proven that a tariff or trade war produces no winner.
US media have in recent weeks reported how the Trump administration’s trade war with China has taken a toll, including on US agricultural exports.
"Each week, the Agriculture Department publishes a summary of the latest exports of American crops. Lately, they have all been missing the same thing: The sale of soybeans to China," The New York Times reported last week.
The US exported just $5.5 billion worth of farm goods to China in the first six months of the year, representing a more than 50 percent drop compared to the same point last year, politicopro.com reported on Aug 5, citing statistics from the US Commerce Department.
Overall, American exports to China shrank drastically in the first seven months of 2025, underscoring the continuing weakness in bilateral trade.
Through July, US goods exports to China totaled $65.3 billion, down nearly 33 percent compared with the $81.8 billion recorded over the same period last year, according to data from the US Census Bureau.
Xie said China and the US have extensive common interests and vast room for cooperation, as evidenced by the fact that bilateral trade surged from less than $2.5 billion when the two countries established diplomatic relations to $688 billion last year.
As to US business operations in China, an estimated 82 percent of the around 73,000 American businesses investing and operating in China have profited, Xie said.
The US-China Business Council, in its 2025 Member Survey on businesses operating in China, revealed that "despite lagging economic growth and geopolitical uncertainty, 82 percent of respondents report that they generated profits in 2024".
That was a slight improvement over 80 percent in each of the previous two years, the USCBC said in its annual report released in July.
READ MORE: Chinese envoy: Trade deficit not necessarily a disadvantage
Xie continued to note that the number of US exhibitors at the China International Supply Chain Expo in July increased by 15 percent from last year, making them the largest group of overseas exhibitors.
"All these have spoken volumes about the mutually beneficial nature of China-US economic and trade relations, and have proven that embracing China is embracing opportunities," he said.
In addition, areas such as illegal immigration, fentanyl, telecom fraud, financial crimes, infectious diseases and AI have the potential to become "highlights and growth points" in cooperation.
On the other hand, attempts to decouple and disrupt industrial and supply chains would only destabilize the world and benefit no one in the end, he said.
"The positive progress in our economic and trade talks has shown that equal-footed consultation is the right way forward," he said, referring to the de-escalation in trade relations following four rounds of talks — in Geneva, London, Stockholm and Madrid — since May.
"Our two sides need to keep to the bottom line of non-conflict and non-confrontation, and add more stability to the turbulent world," he added.
In his speech, the ambassador underscored the critical importance of the Taiwan question, which he said, "bears on the political foundation of China-US relations", and if not properly handled could cause confrontation or conflict.
"The US side should exercise extra prudence on the question, abide by the one-China principle and the three Sino-US Joint Communiques, stop spreading the fallacy that Taiwan's status is 'undetermined', avoid challenging the consensus of the international community including UNGA Resolution 2758, and refrain from trespassing on or crossing the line," he said.
More than 700 guests attended the National Day reception at the Chinese Embassy. They included representatives from the US State Department, the White House National Security Council, the Department of Commerce and other departments, representatives from the governments of Washington DC and Maryland, World Bank President Ajay Banga, Illinois Congressman Jonathan Jackson and foreign ambassadors.
