China-US trade frictions at a time when bilateral ties are interwoven jeopardize the interests of businesses and citizens of not just the two countries, but also the world, according to Mr. Yuan Yafei, founder and chairman of Chinese private multi-national holding company Sanpower Group.

In an op-ed he wrote for up-and-coming think tank China Watch Institute, Mr. Yuan called for further opening-up measures for global powers including US and China, and commended the consensus in the two countries’ business communities that opening up markets are conducive to bilateral economic relations.

Sanpower’s investments in the US as a China-based multinational holding company are testament to the fact of close bilateral economic ties, and its footsteps in China indicate the extent of private industry development amid the government’s ongoing drive to reform and open up, he wrote.

The op-ed emerged days after Mr. Yuan took part in the tenth annual US-China CEO and Former Senior Officials’ Dialogue, which was held in Beijing on May 15.

Sanpower Group has controlling stakes in more than 100 companies, with a 120,000-strong global workforce, including 40,000 non-Chinese employees.

In the US, it acquired consumer electronics retailer Brookstone in 2014, and leading biopharmaceutical firm Dendreon, the maker of the first US Food and Drug Administration-approved cellular immunotherapy made from a patient’s own immune cells, in 2017.

Meanwhile, China Watch Institute is a communication channel facilitating research and analysis for China-focused institutions and thinkers around the world.

Powered by China Daily Group’s core strength as a national flagship of international communication, China Watch Institute is a top-notch conduit for timely, detailed and thought-provoking research on China-related issues.

The think tank boasts a global presence across a broad spectrum of media partners in more than 20 countries, publishing in seven languages.

Click on link below to read Mr. Yuan’s column story on China Watch Institute: http://www.chinawatch.cn/a/201805/29/WS5b0cfa67a3106beef440fdf6.html