LA envoy sees no winner in trade battle

In light of the recent US-China trade tensions, the Chinese Consul General in Los Angeles held a press conference Wednesday to highlight China's interest in continuing negotiations based on mutual-respect and emphasize the importance of people-to-people exchanges between China and the US.

"The trade war is against the interests of both China and the US, and it's harmful for both economies," Consul General Zhang Ping said. "It will interrupt the international economic order and supply chains. And a trade war makes no winner, and China does not want to fight a trade war, nor do we want a trade war with the United States."

"We have the confidence, and we have the ability to cope with any challenges, and we will also take the necessary measures to defend our legitimate interests and rights," he added.

China has been willing to solve the current trade disputes through negotiation and dialogue, even at a time when the US announced an increase in tariffs, the consul general said. He said that for China, the door remains open for negotiations, but in order to make any dialogue meaningful, the negotiations should be based on mutual respect and sincerity.

After a round of tariffs, the two countries agreed to a temporary ceasefire last December to give each other time to work out a trade deal.

Optimism for a resolution faded when the US raised tariffs from 10 to 25 percent on $200 billion worth of Chinese imports on May 10. China quickly retaliated on May 13 by raising tariffs on $60 billion of US exports, leading to an escalation of trade tensions between the two super-economies.

Zhang emphasized the importance of people-to-people exchanges between China and the US. He especially encouraged more dialogue and bilateral trade communication between China and the Golden State, which has long enjoyed a close economic relationship with China.

He noted that the fourth annual China-California Business Forum, to be held on June 5, will be attended by more than 70 companies from eight provinces of China.

"This is a major business event that we think will be beneficial to advancing the existing close economic trade ties and opportunities between China and California. Particularly under the present circumstances, we think it makes it even more important to advance the dialogue between our business communities, and also to take a long term approach to engage in cooperation," Zhang said.

Former California Governor Jerry Brown has attended the event for the last three years. This year, California Lieutenant Governor Eleni Kounalakis will attend the conference.

China is California's biggest trading partner. According to the consulate general, California received a total of around $30 billion in investment from Chinese companies in the last decade, the biggest sum in terms of Chinese investment in a US state.

California also welcomed a record number of Chinese visitors and had a significant number of Chinese students.