Illustration: Xia Qing/GT

As the first high-level trade talks between China and the US takes place in Switzerland over the weekend since the US government imposed steep "reciprocal tariffs" in April, global attention is not only on the meeting itself but also on the wider economic context surrounding them. In the face of the US unilateral tariffs and bullying, China is responding with confidence, upholding opening-up to foster stability and countering the uncertainty created by US tariff policies.

In the context of the erratic tariff moves by the US causing severe impacts on the global economic outlook and trade cooperation, China has agreed to engage in discussions with the US from the perspective of maintaining global economic stability and safeguarding the multilateral trade cooperation. The international financial markets have also responded positively to the high-stakes talks. European stocks saw a positive session on Friday, with Germany's DAX rising 0.63 percent to close at an all-time high, as investors eye China-US trade talks, CNBC reported on Saturday.

China's position on this talk is very clear and firm. A spokesperson from China's Ministry of Commerce (MOFCOM) said at a press conference on Wednesday that China has consistently maintained a firm stance against the US' abuse of tariff measures, urging the US side to face up to the serious negative impact that its unilateral tariff measures have had, both on itself and the global community. The spokesperson urged the US side to show sincerity in talks and correct its wrong practices.

On the one hand, China will unswervingly uphold the multilateral trade rules of the WTO. This is related to the global economic trade order and the fundamental well-being of people in various countries. The unilateral tariff moves of the US undermine this order and will deal a devastating blow to it. As a responsible major country, China is steadfast in safeguarding its legitimate interests as a sovereign nation.

On the other hand, China boasts ample resources and stronger resilience in effectively countering the US' unilateral tariffs. China's dependence on trade with the US has remained at a relatively low level, highlighting the country's diversified export markets that extend well beyond the US. In contrast, American consumers are increasingly grappling with the adverse effects of these tariffs, facing rising prices and limited alternative choices.

Currently, although some foreign media have not given up on pessimistically portraying the Chinese economy and trade, a series of data indicate that the Chinese economy is stabilizing and improving. The strong vitality of the Chinese economy is evident. Its resilience allows the Chinese economy to withstand various external shocks.

In April, China's exports increased by 8.1 percent year-on-year in US dollar terms, beating the expectations. CNN reported that the figure greatly exceeded the forecast from a group of economists polled by Reuters. The stronger-than-expected performance was due to a surge in Chinese exports to countries in Southeast Asia and Europe.

China's GDP grew at a robust 5.4 percent in the first quarter, in sharp contrast with the US, where GDP decreased at an annual rate of 0.3 percent in the same period. In the first quarter, China's retail sales reached 12.47 trillion yuan ($1.72 trillion), a year-on-year increase of 4.6 percent. The high-tech manufacturing sector, which accounted for 15.7 percent of the total industrial output, saw its value-added output climb 9.7 percent year-on-year during the period.

In line with the economic and trade data from April, China continues to take measures to expand its high-standard opening-up. Against the backdrop of US tariffs, China held the 137th session of the China Import and Export Fair (Canton Fair) and the 5th China International Consumer Products Expo as scheduled in April, attracting a large number of companies from various countries, including the US, to actively participate. This conveys the strong confidence of foreign enterprises in the Chinese market.

China will always remain committed to high-level opening-up, win-win cooperation and serving as a driving force for world economic growth, Chinese Foreign Ministry spokesperson Lin Jian said on Thursday.

China firmly opposes the unilateral tariff policies of the US government but unwaveringly opens its vast market to American businesses and to the world. The unilateral bullying of the US government goes against historical trends and the interests of people in all countries, including the American people, which will ultimately fail.

Regardless of the outcome of the China-US trade talks, what is certain is that China will always be committed to high-level opening-up and cooperation for mutual benefits. It is certain that the Chinese economy will continue to develop steadily, contributing to the stability of the global economy and trade.

The author is a senior fellow at the Center for China and Globalization (CCG), executive council member of China Association of International Trade. bizopinion@globaltimes.com.cn