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Chinese consulate-general honors former U.S. Congressman Bill Archer (2)

(Xinhua)

14:31, March 13, 2012

PNTR (permanent normal trade relations) normalized China-U.S. trade relations by putting an end to the 20-year-old practice of reviewing China' s trade status, paving the way for the implementation of China-U.S. bilateral WTO agreement, and leveled the field for a full development of the trade potential between the two countries, said Xu.

Over more than a decade after the United States granted China PNTR, the two countries' trade relations have developed rapidly. The two-way trade between the two reached 446.6 billion U.S. dollars last year, and is expected to well exceed 500 billion dollars this year, according to Xu.

"Our two countries have long become each other's second largest trading partners, and China has been one of the fastest growing export markets for the U.S.," Xu said.

The growing business ties benefit both China and the U.S., and creates a win-win situation, she said.

"My position in meeting with all of the leaders in China never was to stick my finger and tell them this is what you got to do. My position always was that we need to try to understand each other better," Archer said.

He also voiced the hope for closer relationship between the two countries.

"I am fully convinced that China and the United States can be friends. And we will compete, we have to compete. But we do not have to be enemies, and we need to be very careful not to make enemies out of each other," he said.

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