China urges US to lift export limitations to erase trade deficit

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Last updated at: (Beijing Time) Wednesday, October 29, 2003

China urges US to lift export limitations to erase trade deficit

China on Tuesday urged the United States to lift limitations on exports to China to erase its trade deficit, which has triggered disputes between the two major trade partners.

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China on Tuesday urged the United States to lift limitations on exports to China to erase its trade deficit, which has triggered disputes between the two major trade partners.

Chinese Foreign Ministry Spokeswoman Zhang Qiyue said at a regular press conference that China is willing to increase imports from the United States, but US limitations on exports to China is an obstacle.

Zhang did not elaborate on the details of the export limitations.

China, which has strictly abided by the time table, implemented its commitment to the World Trade Organization, Zhang said, adding that China has a "very sincere" attitude.

China hopes that the United States would reduce or lift limitations to maintain the sound development of China-US trade, Zhang said.

Donald Louis Evans, secretary of the US Department of Commerce,��is visiting China, Zhang said, noting that Chinese Premier Wen Jiabao will meet him during the trip.

Evans' visit is conducive for the two countries to exchange views on the problems existing in China-US trade and enhance mutual understanding, Zhang noted.

China-US trade is mutually beneficial, hitting 97.18 billion US dollars last year at a "comparatively high" growth, Zhang said, noting that the overall situation of China-US trade is sound and progressing fast.

On the trade deficit, Zhang said that due to different statistic criteria, China and the United States have different figures.

In fact, US trade deficit is not so large, Zhang said.

Historically, Sino-US trade witnessed consecutive favorable balance to the US side from 1972 to 1993 and then to the Chinese side, Zhang added.

Chinese exports to the United States also benefited the US people, Zhang said.

Exports from foreign-funded enterprises, mainly US-funded ones,��accounted for over half of Chinese exports to the United States, Zhang said.

The Chinese market is open and China is willing to increase imports from the United States, Zhang noted.

The sound development of China-US trade and economic cooperation is in the interests of the two peoples and conducive to the development of bilateral ties, Zhang said.

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