Entrepreneurs from China and the United States held a meeting in Honolulu on Monday over exploiting business opportunities in the two countries.

Deputy Commerce Minister of China Ma Xiuhong told the meeting in the capital of U.S. state of Hawaii that the trade volume between the two countries amounted to 211.6 billion U.S. dollars in 2005, which was 86 times the figure in 1979 when the two countries established diplomatic ties.

Currently, the U.S. is China's second biggest trading partner and China is in third place among the trading partners list of the North American country, she said.

The two-way investment keeps increasing rapidly as the U.S. has become one of the biggest investors in China, said the official.

Now there are some 50,000 U.S. enterprises in China with a total investment of 50 billion dollars, she said.

Chinese enterprises have also begun investing in the U.S. and the U.S.has become an important destination for Chinese entrepreneurs who want to go abroad to run a business, said Ma.

She said China's economy would keep a steady and rapid development in the next five years.

The Chinese government will further advance its economic development by enlarging domestic demands, thus the market of goods and services will witness a continuous expansion, Ma said.

The deputy minister expected businessmen from both countries to reinforce cooperation by taking this opportunity, promoting bilateral economic and trade ties.

National Tourism Administration Director Shao Qiwei introduced China's current situation of the development and opening-up on tourism.

Shao said China was willing to strengthen cooperation with the United States on tourism, which has become a new hotspot of consumption in China.

The Hawaii state and China had started their trade exchanges since long ago, its vice governor James Aiona said.

The visit of the Chinese government delegation and the communication between Chinese and U.S. entrepreneurs are bound to further promote bilateral cooperation in the future, he said.

The Hawaii state keeps its door wide open to Chinese business, the vice governor said, and he believed there are many opportunities for cooperation between the two sides in the fields of tourism, science and technology, and agriculture.

More than 200 Chinese and U.S. entrepreneurs attended the meeting, which is aimed at promoting understanding of the Chinese enterprises towards the investment and trade environment of the Hawaii state. The meeting also intends to facilitate better understanding, communication and cooperation between Chinese and U.S. entrepreneurs.

Source: Xinhua