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MNI BRIEF: China, U.S. To Coordinate On Trade - MOFCOM

MNI (Singapore)
MNI (Beijing)

China’s Ministry of Commerce will support the consensus reached by President Xi Jinping and U.S. President Joe Biden during their meeting in Bali this week, with both sides agreeing to communicate and coordinate on economic and trade issues, said spokeswoman Shu Jueting at a briefing on Thursday, without disclosing further details.

Both sides should work together to create an atmosphere and conditions for economic and trade cooperation, as the two economies are highly complementary and deeply integrated, said Shu, when asked to comment on the recent decline in the growth of exports to the U.S.

Exports to the U.S. increased 6.6% y/y in the first ten months, Shu added. China Chenxin Credit Rating Group estimated exports to the U.S. declined for a third month in October, falling 12.56% y/y in October, down one percentage point from September. (See MNI BRIEF: China's Exports Drop in Oct; First Fall Since 2020)

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