(Yicai Global) March 1 -- China-US trade has increased from a negligible amount to USD750 billion since the two countries established diplomatic relations, Chinese Foreign Minister Wang Yi said yesterday on the 50th anniversary of the signing of the Joint Communique of the People's Republic of China and the United States of America.

China-US relations have made remarkable progress, Wang noted, adding that the two countries have 50 sister provinces and states as well as 233 sister cities. Also, before the pandemic, there were more than 300 flights carrying more than five million passengers between the two countries every year.

Phoenix blankets have become well-known both at home and abroad since they were given to the US guests as a national gift in 1972, Orient International Holdings Chairman Tong Jisheng noted. Now the firm’s trade with the United States is worth over CNY10 billion (USD1.6 billion) a year on average, accounting for a quarter of Orient International’s total exports worldwide.

The American Chamber of Commerce in Shanghai conducted a survey among its member companies last year, Zheng Yixiang, president of the chamber, told Yicai Global, which found that 78 percent of them had a positive or relatively positive attitude toward China's development.

“China is the most important market for many US multinationals,” Zheng said. “Our member companies can make contributions to China’s economy, employment and tax revenue if they develop well in the country.”

“The government, the chamber, and the member companies share the same interests much of the time,” he added.

The two countries issued the Joint Communique of the People's Republic of China and the United States of America on Feb. 28, 1972, the last day of US President Richard Nixon's historic week-long visit to China. In the document, also know as the Shanghai Communique, the US acknowledged that “there is but one China and Taiwan is part of China.”

Editor: Tom Litting