Backgrounder: China-U.S. Joint Commission on Commerce and Trade

08:19, December 15, 2010      

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China and the United States on Tuesday started their annual high-level trade talks to address trade issues of mutual concern.

The China-U.S. Joint Commission on Commerce and Trade (JCCT) was established in 1983 as a government-to-government consultative mechanism for resolving trade concerns and pursuing bilateral commercial opportunities.

The JCCT was elevated to the deputy-premier level in 2004. Tuesday's JCCT was co-chaired by Chinese Vice Premier Wang Qishan and U.S. Commerce Secretary Gary Locke and U.S. Trade Representative Ron Kirk.

The JCCT has played a crucial role in promoting China-U.S. trade, which has soared from less than 2.5 billion U.S. dollars in 1979 to 333.7 billion U.S. dollars in 2008. It fell to about 300 billion dollars in 2009 because of the global financial crisis and economic recession.

Latest data showed that the bilateral trade volume has resumed to the level before the crisis.

The JCCT now includes a number of working groups, such as trade, investment, in