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Last updated at: (Beijing Time) Tuesday, February 19, 2002

A 32-fold Growth Chalked up in Sino-US Trade

Sino-US trade chalked up US$80.5 billion last year to show a 32.8-fold growth over 1979 and an approximate total of US$600 billion over the last 23 years from 1979 to 2001 since bilateral ties were forged by the two countries, according to Chinese Customs statistics lately released.


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Great Economic Complementarity in Two Countries

Sino-US economic ties forged over the last 20 or so years have played an important role in bolstering Sino-US relations, as has been generally accepted.

Compared with the US, mostly highly and of the world largest developed, China is a developing country of the world's largest. Being two major trade partners, they have shown great economic complementarity. The US has been the second biggest trade partner of China and the largest importer of China's exports. In contrast, China has made itself the fourth largest trade partner of the US, with an annual over 18 percent bilateral trade growth chalked up. China has claimed an ever-developing market in the US while the US finds an ever-expanding market in China.

Export Witnesses Rapid Growth

From 1990 to 2000 US export to China was statistically placed at an annual growth of over 16 percent, at a rate much greater than that of US export average and its export trade with other countries.

On top of such traditional exports as footwear, clothing and toys there have been developed by China in recent years an increased quantity of export items as those for digital processing, machinery, electronics and other suchlike hi-tech exports to the US.

Meanwhile, the US has come to export no less of its airplanes, chemical fertilizer, power generation equipment, electronics, chemical and machines apart from an ever-increased amount of farm produce to China.



Healthy Sino-US Economic/Trade Cooperation Keeps on
 The two-way trade between China and the United States continues its growth trend in 2001.

US direct contractual investment and actually implemented investment in China both reported a large margin of increase over the same period last year. Economic and trade cooperation between the two countries maintains a healthy development.

China Paying Great Attention to Sino-US Ties: Jiang
Chinese President Jiang Zemin held talks with US President George W. Bush in Shanghai on October 19, 2001, saying that China attaches great importance to the Sino-US relationship.


By People's Daily Online

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