The stock of China-US cooperation accumulated over many years remains substantial, deeply rooted and resilient

In discussing today’s relations between China and the United States, an important reality should not be overlooked: The stock of bilateral cooperation accumulated over many years remains substantial, deeply rooted and resilient. This is reflected in economic and trade exchanges, subnational engagement, corporate presence and global governance collaboration. These long-standing economic ties serve as a key pillar of the bilateral relationship. The weight of China-US economic ties is evident in their sheer scale and deep integration. The economic relationship is mutually beneficial and win-win in nature, just as President Xi Jinping pointed out when holding talks with US President Donald Trump in Beijing on Thursday.

According to China’s General Administration of Customs, the country’s total imports and exports with the US reached 4.01 trillion yuan ($590.5 billion) in 2025, accounting for 8.8 percent of its total foreign trade value. Based on US statistics, in the first 10 months of 2025, the US’ total imports and exports with China stood at $373.64 billion, representing 7.8 percent of the US’ total foreign trade value. China counts as the US’ third-largest partner for both exports and imports, while the US is China’s top goods export market and its third-largest import source.

Early 2026 has evidenced some changes in China’s trade structure. China’s General Administration of Customs data released in May showed that in the January-April period, China-US trade totaled 1.25 trillion yuan, a 12.9 percent drop year-on-year, while China’s trade with the Association of Southeast Asian Nations, the European Union and members of the Regional Comprehensive Economic Partnership grew over that period. This suggests that China is diversifying its trade ties and building a more balanced mix of partners, which will boost its resilience to external shocks.

But China’s diversifying market footprint does not mean its cooperation with the US is becoming less important. Beijing has consistently called for stable and mutually beneficial economic exchanges. Even under maximum external pressure and high tariff rates, two-way trade held above the trillion-yuan mark — a sign of the deep complementarity between the two economies. Their economic ties — spanning consumer markets, manufacturing systems, supply chains and the industrial division of labor — are not easily replaceable in the short term.

Over the longer term, China-US economic and trade relations have transcended simple commodity transactions. US companies remain deeply embedded in China’s market, while key segments of Chinese supply chains have forged long-term synergies with the US market. This decades-old cooperation network has become an integral part of the economic fabric of both countries.

Despite periodic fluctuations in China-US relations, local exchanges and business cooperation have remained resilient, acting as a stabilizing force in the relationship. As of August 2025, China and the US had established 288 pairs of sister provinces/states and sister cities, covering large populations and economically vibrant regions in both countries. In April this year, Shenzhen’s Nanshan district and Tacoma, Washington, held their first in-person exchange event since establishing a friendly city partnership. Participants in the Ping-Pong Diplomacy 55 years ago took up their bats once again. Chinese Ambassador to the US Xie Feng said on social media platform that 55 years later, the friendship continues to thrive, and grow across generations.

The corporate side tells a similar story. According to the US-China Business Council’s 2025 Member Survey, almost all the surveyed companies recognize that they cannot remain globally competitive without their China operations.

In April this year, the US-China Business Council led its largest and most broadly representative delegation to visit Guangzhou and Shenzhen, with dozens of companies making up the delegation.

Meanwhile, the 2026 Special Report on the State of Business in South China, released by the American Chamber of Commerce in South China, also revealed that 95 percent of participating companies report a commitment to maintaining their operations in China.

Beneath the surface, this reflects the logic of market dynamics and the pragmatic choices of enterprises. China’s vast market, complete industrial system, mature supply chains and continuous opening-up have long held strong appeal for multinationals. The brand influence, local partnership networks and industrial footprint many US companies have built here are pivotal cooperative assets in bilateral relations.

The existing stock of bilateral cooperation also manifests in the two sides’ governance capacity, industrial strengths and technological edge. As the world’s two largest economies, the two nations have major influence over global issues spanning climate change, artificial intelligence, public health and financial stability. Few of these challenges can be addressed by either side alone. Maintaining sound bilateral coordination will add greater certainty to the global landscape.

The energy sector best exemplifies this dynamic. Though the US is now refocusing on fossil fuels, energy independence and a revival of traditional manufacturing, it retains clear strengths in energy technology, green finance, grid modernization and energy storage. AI advances are also driving up US power demand.

China, for its part, is in a critical energy transition phase during the 15th Five-Year Plan (2026-30) period. It has formed a complete industry chain and secured economies of scale across photovoltaics, power batteries, electric vehicles and the wider green supply chain. Should both sides maintain long-term cooperation in specific areas such as energy storage, power grids, energy efficiency and green investment, their respective strengths can fuel the global green transition.

The same holds true in the AI domain. Both China and the US stand as key players in global tech innovation, boasting strong research capabilities, enormous markets and abundant application scenarios. Challenges brought by this technology — including energy consumption, data security, technology misuse and standards alignment — have gone beyond any single country’s capacity to address. Maintaining necessary communication amid competition and exploring cooperation on technological security, risk prevention and regulatory coordination serve both sides’ interests and help mitigate risks in global tech governance.

Global governance is evolving into a far more complex era. The more complicated global challenges become, the more major powers should step up to shoulder responsibilities; the further technological influences extend, the more imperative it is for leading innovators to enhance coordination.

China and the US each boast comparative advantages. By leveraging their respective endowments to scale up cooperation, the two can deliver tangible global public goods and unlock new space for bilateral collaboration.

The author is an assistant research fellow at the Chongyang Institute for Financial Studies at Renmin University of China.

The author contributed this article to China Watch, a think tank powered by China Daily. The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.