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People's Daily Online>>China Business

China-U.S. trade up 17% in first ten months: commerce minister (2)

(Xinhua)

14:48, December 03, 2011

To boost bilateral trade, China will make efforts to increase imports from the United States while China hopes the United States to relax its restrictions on high-tech exports to China, Chen said.

While continuing efforts in promoting U.S. investment in China, the country also expects the United States to create a fair and transparent environment for Chinese firms that intend to invest in the United States, Chen added.

He said the two countries should explore new cooperation opportunities in fields such as energy saving, environmental protection, information technology and biomedicine. The two countries should also strengthen cooperation in infrastructure construction.

Chen said China is willing to turn the U.S. debt it holds into investment in the United States, which will help solve its employment problems.

In the first ten months of the year, the United States invested 2.57 billion U.S. dollars in China, down 18.13 percent year-on-year. The decrease was 9 percentage points higher than in the first three quarters.

Chen also said he expects the consumer price index (CPI), a main gauge of inflation, to slightly exceed 5 percent this year in China. The figure is above the government's target of 4 percent.

The country's CPI increased 5.5 percent year-on-year in October, easing from a 37-month high of 6.5 percent in July. Analysts expect the November figure, which is due to be released next week, to drop under 5 percent.

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