More cooperation in trade and investment between the United States and China is welcome, and trade tension should be avoided, U.S.-China Business Summit organizers said in Chicago on April 18.

"At a time of rising trade tension, it is more important than ever that we foster dialogue between private and public sector leaders of the two largest economies in the world," Lloyd Blankfein, chairman and chief executive of Goldman Sachs, addressed the opening ceremony of the two-day summit.

"But in the context of this moment of trade tension, expanding bilateral investment is positive for every side, as it generates jobs in the United States, (and) provides China with high-quality goods and service," Blankfein told Xinhua. "This will help shrink the trade deficit between the two countries."

Chairman of China Council for the Promotion of International Trade (CCPIT) Jiang Zengwei noted, mutual benefit and win-win achievements are the essence of Sino-U.S. economic and trade cooperation.

“China and the U.S. regard each other as important markets and development opportunities. The markets of both sides provide an abundance of potentials to explore. The golden key to explore the potentials is to deepen bilateral cooperation. I suggest the business community of both sides launch more cooperation projects beneficial to both peoples by starting from cooperation at province-state levels,” added Jiang.

Chinese ambassador to the U.S. Cui Tiankai advocated both sides to have win-win mentality instead of a zero-sum game in mind. China and the U.S. should proactively participate in the global economic governance in a constructive way just as before.

“Trade can bring mutual benefit while conflict can do harm to both sides. China welcomes the U.S. government and enterprises to participate in the project cooperation under the Belt and Road Initiative. I hope business community of both countries can make efforts to offset disputes and share opportunities to achieve common prosperity,” noted Cui.

Tu Guangshao, Vice Chairman and President of China Investment Corporation (CIC), told Xinhua, "Most of the business leaders here voiced their willingness to expand bilateral investment, and they hope trade friction would be avoided."

Over 100 senior business leaders and government officials from China and the United States attended the summit in Chicago, which is co-hosted by Goldman Sachs Group, Inc. and CIC.

In November, Goldman Sachs and CIC announced a strategic relationship to establish the China-U.S. Industrial Cooperation Partnership, known as the Cooperation Fund.

The Fund targets 5 billion U.S. dollars in commitments with a broad mandate to invest in American companies in the manufacturing, industrial, consumer and healthcare industries, among others, that have or can develop a material business connection with China.

(Part of the text from Xinhua)