China and US Presidents Agree to Strengthen Bilateral Ties and Boost Economic Cooperation

Chinese President Xi Jinping and US President Donald Trump reaffirmed their commitment to strengthening bilateral relations and promoting economic cooperation during their meeting in Busan, South Korea. Xi emphasized the importance of building a solid foundation for China-US ties and creating a sound atmosphere for the development of both countries.

Key Takeaways:

• China's economy has maintained a growth rate of 5.2 percent in the first three quarters of this year, with import and export trade in goods expanding by 4 percent.
• Xi noted that the Chinese economy is resilient and promising, and the country has the confidence and capability to navigate all kinds of risks and challenges.
• The two countries' economic and trade teams reached consensus on solving various issues and called on the two teams to work out and finalize the follow-up steps as soon as possible.
• Xi emphasized the importance of thinking big and recognizing the long-term benefit of cooperation, and called on the two teams to continue their talks in the spirit of equality, mutual respect, and mutual benefit.
• Xi proposed enhancing mutual understanding through communication through various channels and at various levels, and said that the two countries should work together to accomplish more great and concrete things for the good of both their countries and the whole world.
• China will host APEC 2026, and the US will host the G20 summit next year, providing opportunities for both countries to support each other in promoting world economic growth and improving global economic governance.

Statistics:

• China's economy grew by 5.2 percent in the first three quarters of this year.
• Import and export trade in goods expanded by 4 percent.
• The Chinese economy is expected to continue its growth momentum in the next five years, with a focus on deepening reform, expanding opening up, and promoting higher-quality economic growth.

Sources:

• Xinhua via COM TEX, October 30, 2025. "Xi says ready to continue working with Trump to build solid foundation for bilateral ties."