China faces ‘huge challenge’ in living up to US trade promises as it ‘needs to buy US$300bn worth of goods in next two years’

Beijing’s response reflects caution about possible missteps ahead while Americans give details of its pledges to boost imports

Government adviser says Chinese appear less excited that the Americans about the ‘phase one’ agreement, which commit it to buying ‘lots more agricultural goods’

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China’s chief trade negotiator Liu He and his US counterpart Robert Lighthizer are expected to sign the deal in January. Photo: AFP

Published: 5:21pm, 16 Dec 2019Updated: 11:53pm, 16 Dec 2019

China has released fewer details about its trade deal with the US than the American side has – a sign of caution as one government adviser warned it would be a “huge challenge” for Beijing to live up to its commitments.

While the United States has released details such as the value of American products China has agreed to buy, Beijing’s statement focused more on the broad principles of the “phase one” agreement.

Observers said this reflected Beijing’s concern about possible mishaps ahead of a formal signing ceremony – which is expected to take place in January.

Shi Yinhong, a Chinese government adviser and international relations professor at Renmin University, said Beijing appeared less excited than the US even though it had described the agreement as significant.

“For China, committing to and carrying out the phase one agreement is a huge challenge,” Shi said. “China will need to buy something like US$300 billion worth of US products in the next two years and lots more US agricultural goods. Does China need that amount of US soybeans?”

A fact sheet released by Washington on Friday said China and the US had reached agreement on nine areas, ranging from intellectual property protection to dispute resolution.

The agreement, which is 86 pages long, will be signed by US Trade Representative Robert Lighthizer and Chinese Vice-Premier Liu He, next month.