The US-China relationship is driven by many engines, and economics and trade and subnational exchanges are the two most important ones, said Chinese Ambassador to the US Cui Tiankai.

Cui spoke at the China General Chamber of Commerce-USA luncheon during the National Governors Association summer meeting in Providence, Rhode Island on Thursday.

Cui said that the China-US relationship has traveled a four-decade journey with steady progress despite ups and downs, the two nations now "have become interdependent partners cooperating and coordinating major international and regional issues and enjoy a $500 billion bilateral trade and $170 billion two way investment."

Maryland Governor Larry Hogan said that China is Maryland's fifth-largest export market and its fourth largest market for imports.

"We are really proud of the excellent relationship that we have with China, which is evident through the success of the 27 Chinese companies that already headquartered in our state," Hogan said. "We have more than 50 Maryland-headquartered companies with physical operations in China, including respected brands like Marriott International and Under Armour."

Hogan said that Maryland's overall economic performance just moved into the top 10 states in the USA. "It's truly no better time to invest in our state right now," he said.

"We very much want to further strengthen Maryland's ties with China and ... find ways to do even more business in the future," said Hogan.

"The expanding and deepening US-China relationship is driven by many engines, and I think economic and trade relation and subnational exchanges are two important ones," said Cui.

Cui believes there is much more both countries can do.

"When we make the pie bigger, both China and the US will be able to take a bigger bite. In order to do that, we both have to redouble our efforts to make sure that the mutually beneficial nature of our economic and trade relations is given full play in our future development," said Cui.

Cui said China is taking steps to reform its environment for foreign investment, upgrading its opening-up by establishing free trade zones, streamlining procedures for foreign capital mergers and acquisitions and opening more sectors for foreign business.

"Our reform efforts will open up new prospects for China-US economic and trade cooperation," he said.

"At the same time, many Chinese companies have a great interest to invest in the US thanks to the competitive investment environment here," he said

"Every state, I think maybe every congressional district, has Chinese investment and these investments have brought a total of 140,000 jobs to the US and most of them in manufacture," Cui said.

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