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1、The 13th Five-Year Plan Consolidates Mutual Trust in China-UCHINA and the U.S. have their respective stances and requirements of each other in the volatile trade and economic sphere， their common expectation being to exert optimum control to limit unexpected changes. Within that process， mutual trus
2、t remains the core test of bilateral relations. The U.S. expects China to further expand free trade， apply more marketoriented monetary and financial policies， and provide a transparent， fair and predictable environment for U.S. busi-nesses. China， in turn， expects the U.S. to enlarge its investment
3、 market， expand cooperation on cutting-edge technology， and separate politics from economics. The foreign trade and economic strategies laid down in the 13th Five-Year Plan will have direct impact on China-U.S. trade and economic relations. Expand Free TradeFree trade will expand further to cover mo
4、re fields， so making China and the U.S. more complementary.The plans recommendations clearly state that efforts will be made to speed up the optimization and upgrade of Chinas foreign trade， and to elevate China from a large to a strong foreign trading country； to improve the overall arrangement of
5、foreign trade and innovate the development model； to improve marketing and after-sales service networks； to enhance the competitiveness of traditional superior products and consolidate their share in the international market； to promote foreign trade through producing higher quality， cheaper goods；
6、to strengthen new export-oriented industries such as equipment manufacturing； and to develop service trade.If foreign trade is indeed successfully elevated by means of high quality， low price， better structured imports and exports， U.S. consumers may continue to reap the benefits of inexpensive， qua
7、lity made-in-China commodities. United States Department of Labor statistics show that the growing share of Chinesemade goods in the U.S. market has lowered the retail prices of commodities in the country ?C those of home appliances having dropped by nine percent every year， and of sports equipment
8、by three percent. For example， as a result of growing Chinese exports of cookware and kitchen tools the price of a pan has fallen over the space of three years from its original price of US $49.9 to US$29.99. It is likely that development of service trade will bring even more convenience to U.S. con
9、sumers.To remedy the traditionally unhealthy relationship wherein the U.S. is the “ultimate consumer” and China the “ultimate producer，” the plan calls for great efforts towards implementing proactive import policies and further opening the domestic market to the globe as a whole. On the one hand， C
10、hina needs U.S. technology and brands； on the other， China must consume its domestic savings. Last year saw the first occasion on which Chinas service industry scale exceeded that of its manufacturing industry. The plan also has indirect impact on China-U.S. trade and economic relations. For example
11、， favorable policies are needed to achieve smooth bilateral free trade and to streamline procedures of people-to-people exchanges and communications. The plan hence proposes that China strives to achieve either mutually exempt or simplified visa procedures with more countries.In November 2014， the U
12、.S. government announced that Chinese visa applicants would be issued multiple-entry business and tourist visas for up to 10 years. Chinese students and exchange visitors， meanwhile， are eligible for multiple-entry visas valid for up to five years. According to White House statistics， 2013 saw 1.8 m
13、illion visitors from China to the U.S.， so boosting the latters economy by US $21.1 billion， and creating around 109，000 jobs in the U.S. The White House projects that close to 7.3 million Chinese will travel to the U.S. in 2021， so contributing around US $85 billion a year to the economy and creati
14、ng 440，000 jobs. Optimize Business EnvironmentAn optimized business environment， featuring rule of law， internationalization and facilitation， along with a mechanism conducive to win-win cooperation and compatible with international trade and investment rules， is anticipated. Certain U.S. officials
15、and journalists have commented that the U.S. has long expected China to reform its financial sector， in particular its foreign exchange and monetary policies. Perceived RMB manipulation and devaluation have hence been a focus of disputes.A country like the U.S. that has an ongoing trade deficit need
16、s large inflows of overseas capital to support its financial and monetary system. It is clearly in the interest of China， at a time of slowing economic growth and further diversification of its assets abroad， to support financial market liberalization and a stronger RMB.The plan emphasizes that China will in future expand two-way opening of its financial industry， realize RMB capital account convertibility， and make the RMB a convertible， widely used currency； tran
