The China-US trade and investment relationship felt various impacts of the Great Recession，political factors such as the rising tides of trade protectionism and trade policy adjustments of the United States played a disruptive role. Trade frictions and disputes between China and the United States have been increasing rapidly. But in general，the China-US economic relationship was able to keep itself in a stable path during the financial and economic crisis，with bilateral trade and investment recovering rapidly from the recession shocks. Governments of both sides have been trying to work together to maintain the stability of the bilateral trade and investment relations and to expand the areas of cooperation and coordination. From a statistical point of view，there is no significant change to the bilateral trade “imbalance”，with US trade deficits toward China reached a new record high in 2010. Bilateral trade-rebalancing has to be addressed from a longer term perspective for structural reforms in both economies will be needed.