'Xi says Chinese modernisation will benefit US firms'
President Xi Jinping said Chinese modernisation will benefit US firms, state media reported on Friday, in a letter sent to mark the 50th anniversary of a committee on China-US trade. In Xi's letter, he insisted that China would "unswervingly promote high-level opening up to the outside world, and create a market-oriented, rule of law-based, internationalised business environment". "Chinese modernisation will bring more opportunities to global enterprises including American ones," the letter continued. "There is great potential, broad space and promising prospects for strengthening China-US trade cooperation," he wrote, according to broadcaster CCTV. Meanwhile, in remarks prepared for a dinner hosted by the US-China Business Council, US Treasury Secretary Janet Yellen stressed that Washington does not want to decouple from China, but is working to establish "durable" communications channels to deal with problems as they occur.  "We seek not to resolve all our disagreements nor avoid all shocks. This is in no way realistic," she said in excerpts released by the Treasury Department.  "But we aim to make our communication resilient, so that when we disagree, when shocks occur, we prevent misunderstanding from leading to escalation and causing harm." (AFP/Reuters)