China hopes for 'peaceful coexistence' with US after Trump's comeback

China on Wednesday expressed hope for "peaceful coexistence" with the United States amidst Donald Trump's approaching victory over Kamala Harris in the US presidential election.

China's foreign ministry spokeswoman Mao Ning said during a regular briefing that China would maintain its approach to US relations based on "mutual respect, peaceful coexistence, and win-win cooperation."

"Our policy toward the United States has been consistent," she added, whilst avoiding direct comments about Trump's potential re-election. Mao said, "the United States presidential election is an internal affair of the United States".

While Beijing maintains its policy of non-interference in other countries' elections, it has expressed opposition to China being used as a campaign issue.

The Chinese yuan and stock markets on Wednesday experienced significant declines, driven by concerns over potential shifts in US-China relations. The possibility of Donald Trump returning to the White House, coupled with Republican dominance in Congress, raised worries about escalating disputes rover trade and technology.

Trump's previous presidency saw significant trade conflicts with China, including substantial tariffs imposed over alleged unfair practices.

Relations remained strained under Biden's administration, reaching historic lows with new restrictions on Chinese electric vehicles, batteries and solar technology.

China sells goods worth more than $400 billion annually to the US and hundreds of billions more in components for products Americans buy from elsewhere.