Foreign Ministry spokesman Mao Ning explained that the current bilateral trade situation is the result of factors such as the economic structure of both countries, trade policies and the status of the dollar as a global currency.

He clarified that China does not deliberately seek a trade surplus and added that economic cooperation between the two countries is based on the principle of mutual benefit.

“If only one side benefited and the other ‘lost out,’ this relationship would not have come to this day,” he said.

According to Mao, exports of US companies in China are counted in China’s surplus.

On the other hand, Mao stressed that shipments of high-quality, low-cost products from China have improved the purchasing power of US consumers, while generating jobs in sectors such as transportation, retail and logistics.

He also noted that the US maintains a significant surplus in services trade with China.

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