Chinese gov't delegation to go shopping in US

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Last updated at: (Beijing Time) Thursday, October 30, 2003

Chinese gov't delegation to go shopping in US

The Chinese government will send a delegation to the United States to explore ways for China to increase imports.

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The Chinese government will send a delegation to the United States to explore ways for China to increase imports.

This was revealed by Wan Jifei, president of the China Council for the Promotion of International Trade (CCPIT), at a press conference co-hosted here Wednesday by the CCPIT and the US-China Business Council (USCBC).

Wan said cool-headed and objective analysis of the US deficit in bilateral trade is needed, adding the main reason for the deficit was that many US companies invest in China and export their products to the United States.

China will expand imports from the United States and it hopes the US side will ease restrictions on exports to China, said Chinese Premier Wen Jiabao when he met with US Commerce Secretary Donald Evans Tuesday.

"We hold that a basically balanced trade relationship between China and the United States should be pursued in the course of development," Wen said.

Wan said one way to reduce the deficit is to buy more US products, but what China needs are electronic, aviation and chemical industrial products.

He said the price and added value of such products are relatively high so importing them can also reduce the deficit more quickly.

However, the US government has restricted exports of such products. Wan urged the US government to change its policies.

Christopher Calvin, chairman of the USCBC, said he believes China will complete WTO compliance and change the trade imbalance. He said China has made progress in WTO compliance "thoughtfully and progressively" in various areas, "but there is still room for improvement."

Founded in May 1973, the USCBC is a private, non-profit organization. It is the principal organization of US corporations engaged in business relations with China. It served early efforts of US business in China in the absence of formal diplomatic relations between the two nations.

The USCBC delegation visits China to celebrate its 30th anniversary and 30-year cooperation with the CCPIT, China's largest trade promotion organization.

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