Sino-US trade has ceased, and new economic and trade relations have also begun. On May 20, US local time, US Treasury Secretary Mnuchin said in an interview that the United States and China have reached an agreement on the framework issue and agreed to stop the trade war. The two sides will continue to hold consultations on economic and trade issues. At the same time, Mnuchin also revealed that US Secretary of Commerce Ross will visit China soon. On the day before Mnuchin’s interview, China and the United States have issued a joint statement on bilateral economic and trade consultations, finalizing the cooperation direction between the two countries in manufacturing, service trade, intellectual property and other fields. The specific form of cooperation left a “live button†pending further consultations. Service and trade cooperation looks forward to a win-win outcome According to the joint statement, China will not only increase the number of services purchased from the United States, but China and the United States have also reached a consensus on creating favorable conditions to increase service trade. It can be seen that under a new economic and trade relationship, the service trade between the two countries will also be accelerated and upgraded. The spokesman of the Ministry of Commerce, Gao Feng, said that the United States is the country with the largest source of trade deficit in China, and the deficit has grown rapidly in recent years. According to data from the Ministry of Commerce, in 2006-2016, the total trade in services between China and the United States increased by 3.3 times, while the deficit increased by nearly 33.7 times. Lu Jinyong, director of the Center for International Investment Research at the University of International Business and Economics, said that services in the fields of education, tourism, finance, insurance, professional services, and computers are among the best in the US for trade in China's service trade. In general, US-to-China service exports are mainly concentrated in Technology-intensive, capital-intensive and intellectually intensive emerging service areas. In contrast, China and the United States in the service sector mainly in the tourism, education and other traditional services, but in recent years, China's exports of technology in the computer, financial and other technology-intensive services to the United States is gradually expanding. Lu Jinyong pointed out that during the next phase of negotiations between China and the United States, the United States may propose to the Chinese side to continue to expand services in the areas of technology-intensive and intellectually intensive imports. At the same time, Lu Jinyong also stressed that China itself has been expanding into a service industry opening up in recent years. If the two sides reach new cooperation, it will force China's service industry to accelerate the development of new businesses. This will have a positive impact on the competitiveness of China's service industry, the standardization of standards, and self-innovation. "Therefore, the negotiations on service trade between the two countries will surely usher in a win-win outcome." Opportunities for Manufacturing Transformation In this joint statement, China and the United States also discussed the expansion of manufacturing products, but only "consensus", which means that the two sides need further negotiations in specific details. In the manufacturing industry, Sino-US cooperation has been continuously strengthened, and based on its own advantages, it has closely divided and cooperated in the industry and value chain. "The United States is mainly engaged in high-end manufacturing, and has advantages in product research and development. China's labor force is intensive and has the advantage of processing and assembly. The same industry chain includes both high-end and low-end links. Taking mobile phone manufacturing as an example, the United States is responsible for Research and development of chips, and China is responsible for assembling mobile phones." Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce, said that since China’s reform and opening up, China and the United States have cooperated in manufacturing, involving IT, automobiles, mobile phones, textiles, In many fields such as clothing, almost all large American companies have cooperated with China. Bai Ming predicted that “Made in China 2025†will continue to be the focus of the next negotiation between China and the United States. In fact, the developed countries such as the United States have begun to revive the manufacturing industry. At the same time, China is entering a crucial period of transition from an industrial power to an industrial power. Intellectual property rights to open "strong supervision" According to the joint statement, the two sides attached great importance to intellectual property protection during the consultation and agreed to strengthen cooperation. China promised to amend the "Patent Law" and other relevant laws and regulations. Zhang Monan, a researcher at the China Center for International Economic Exchanges, said: "In this joint statement, the US has proposed some structural appeals such as protecting intellectual property rights and opening up the investment market, which is in line with the general direction of China's reform and opening up. It is not the US requesting us to do so. But we need to turn the economy to high quality development by solving these structural problems." In the view of Zhang Jianping, director of the Regional Cooperation Center of the Research Institute of the Ministry of Commerce, the reference to Sino-US intellectual property cooperation in the joint statement actually reflects the fact that the US still has concerns about the strictness of intellectual property protection in China. "In recent years, a large number of US companies have been China's investment needs to be regulated by Chinese laws. Therefore, the United States hopes that China can accelerate the improvement of intellectual property legislation, law enforcement, and strengthen the protection of intellectual property rights of relevant policies. Zhang Jianping said. "In recent years, China has made great efforts in the field of intellectual property protection, including the transfer of trademarks and patents to the State Intellectual Property Office for unified management," said Zhu Lixin, an intellectual property lawyer at Beijing Hanzhuo Law Firm. At the same time, The infringement compensation for intellectual property cases has also been strengthened year by year. Many courts will use the rules of evidence to break through the upper limit of the current law and sentence the infringer to the amount of compensation of several million yuan or even ten million yuan. In Zhu Lixin's view, the relevant departments in the next step can continue to promote concessions and conveniences in terms of trademark review time and cost. For example, Zhu Lixin said that, for example, the cost of trademark registration in China has dropped from a maximum of 800-1000 yuan to 300 yuan, and there is still room for further decline in the future.
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