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| MOFCOM Unveils Hi-tech Purchases from US |
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China's purchasing delegation to the US has signed deals worth US$32.6 billion, including high-tech products such as aircraft engines, the Ministry of Commerce spokesman announced on Wednesday. Other products include third generation nuclear power facilities and telecommunication equipment, ministry spokesman Wang Xinpei said at a press conference in Beijing. The purchase and investment deals were signed by the delegation headed by Vice Commerce Minister Ma Xiuhong during its 24-state US tour this month to promote trade between the two countries. The delegation also agreed to buy cell phones, cars and automotive spare parts, computer software, soybeans, cotton, and oranges from the US, said Wang. Chinese Vice Premier Wu Yi, speaking at the opening ceremony of the second round of the high-level US-China Strategic Economic Dialogue (SED), suggested the US expand the range of exports of civilian high-tech products and technologies to narrow the trade gap. The dialogue focused on a range of issues, including rebalancing bilateral trade, opening up financial and non-financial service markets, and promoting investment and clean energy cooperation. A report made by the Academy of Social Sciences forecast China's trade surplus with the US would reach US$178.2 billion this year, an increase of 23.5 percent over last year. According to the General Administration of Customs, China's trade surplus with the US in the first quarter rose by 21.1 percent to US$34.68 billion. However, the monthly figure has been steadily declining since October. Wang confirmed the two sides would discuss the protection of intellectual property and market access of publications as scheduled in Geneva from June 5 to 8. (Xinhua News Agency May 31, 2007) |
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