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Li stresses trust is key element (2)

By DING QINGFEN (China Daily)

08:13, March 21, 2013

"China's increasingly expanding domestic consumption is quite appealing for the US, and also, Chinese investment creates quite a number of jobs in the US," he added.

In 2012, China-US trade jumped by 8.5 percent from a year earlier and reached a record high of $484.68 billion.

Last year, US foreign direct investment in China increased by 4.5 percent year-on-year to $3.13 billion, while the world's second-largest economy's FDI dropped by 3.7 percent in 2012.

Despite the good economic figures, disagreements between the two countries have been accelerating. Last year, a report by two members of the US House of Representatives Intelligence Committee cited two Chinese telecom equipment firms, Huawei Technologies Co and ZTE Corp, as posing a potential national security threat to the US.

During the past few years, the US has been active in advancing regional trade pacts.

The Trans-Pacific Partnership Agreement, also known as the TPP led by the US and covering 11 nations, is expected to be concluded in 2013.

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Email|Print|Comments(Editor:HuangBeibei、Yao Chun)

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