Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping
English websites of Chinese embassies




Home >> Business
UPDATED: 14:53, November 13, 2006
US trade chief on "high-powered mission" to China
font size    

US Commerce Secretary Carlos Gutierrez started a five-day visit to China on Monday, focusing on export opportunities for U.S.-based enterprises and bilateral trade issues.

Gutierrez is accompanied by a "high-powered mission" consisting of 25 big firms, including companies already operating in China such as Lucent Technologies or McGraw-Hill, and newcomers like Westinghouse and America's second-largest insurance company Aon Group.

By helping American firms expand their exports to China, the mission aims to reduce the US trade deficit with China, according to a statement from the US Department of Commerce.

Gutierrez told US media before his departure that the United States had significant opportunities to increase its export volume to China.

Experts with China's Ministry of Commerce said both sides have been making active efforts to develop trade relations after China and the United States initiated a Sino-US strategic dialogue mechanism in September.

But Mei Xinyu with the Research Institute of the Ministry of Commerce said it was "unrealistic" to expect to reverse the trend in the short term.

"China's trade surplus with the United States will continue to rise," he predicted.

China's trade surplus with the United States grew to 102.2 billion U.S. dollars in the first nine months this year, which served to strain relations between China and its major trading partner.

In its five-year plan (2006-2010), the Ministry of Commerce is aiming to reduce the trade surplus by increasing imports.

It is learned Gutierrez had talks with his Chinese counterpart Bo Xilai to discuss hot topics like the trade imbalance and intellectual property rights.

Gutierrez will stay in Beijing for two days before leaving for Shanghai on Wednesday to participate in a series of meetings.

The American Chamber of Commerce in Shanghai has arranged a luncheon to welcome Gutierrez on Wednesday, where he will deliver a speech on the current US-China trade situation and prospects for the future.

Sources said the luncheon is sold out.

Analysts say the fundamental cause of the trade imbalance is China's high savings rates and the hegemonic position of the dollar in the international currency system.

They also noted that the US policy of limiting high-tech exports to China restricts its overall export performance.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
Dic

Manufacturers, Exporters, Wholesalers - Global trade starts here.
Versions:
Copyright by People's Daily Online, all rights reserved