The Chinese government will firmly combat piracy and protect the rights and interests of all intellectual property rights (IPR) owners, said Chinese Vice Premier Wu Yi in Xiamen on Friday.

Wu made the remarks when meeting with Barbara Franklin, vice chairperson of the U.S.-China Business Council, who is attending the Tenth China International Fair for Investment and Trade (CIFIT). The two sides exchanged views on bilateral trade relations and issues of common concern.

Wu added the Chinese government will continue to strengthen law enforcement in IPR protection and severely punish those who break the law.

Trade between China and the United States is growing fast. China is the Unites States' third largest trading partner and its fourth largest export market, while the United States is China's second largest trading partner and its biggest export market.

China and the United States are "key trading partners." Enhancing cooperation and carrying out consultations on an equal footing have become the "mainstay" of the bilateral trade relationship, Wu said.

She also hoped the US side would take constructive measures to lift restrictions on exports of certain goods to China, and increase bilateral trade in the high-tech area, so as to diminish the imbalance in bilateral trade.

Franklin agreed with Wu, saying China-US trade relations are very vigorous. She also spoke highly of the IPR protection efforts made by the Chinese government.

The US-China Business Council will continue to actively push forward trade relations between the two countries, she said.