US trade mission pushes clean energy sale

16:44, May 19, 2010      

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U.S. Commerce Secretary Gary Locke led his first trade mission to Shanghai Tuesday, working to deliver on President Barack Obama's pledge to double U.S. exports and create two million American jobs.

The visit to China, ahead of an annual strategic and economic dialogue later this month in Beijing, comes as both countries seek to smooth trade tensions and cultivate new business opportunities while grappling with uncertainties revived by the European debt crisis.

Locke's mission is focused on encouraging clean energy technology sales, an area of huge potential given China's need to upgrade its industries and improve energy efficiency.

On Tuesday, American Superconductor Corp. announced a new electrical components order from Sinovel Wind. Beijing-based Sinovel, ranked the world's third-largest wind turbine maker, has so far ordered US$1 billion from AMSC.

"Promoting American exports, particularly here in Asia, will create more jobs in America while improving the lives of people around the world and introducing new products and services to local communities," Locke said.

Locke, U.S. Secretary of State Hillary Clinton, Treasury Secretary Timothy Geithner and U.S. Trade Representative Ron Kirk will attend the Strategic Economic Dialogue on Monday in Beijing.

The talks, a venue for thrashing out grievances on trade, currency and other policy issues, come as Beijing and Washington mend ties after a bout of friction over various issues.

As the European financial crisis deepens, China appears to be pulling back from expected moves to loosen its currency's peg to the U.S. dollar, saying the euro's slide to four-year lows against the dollar is putting too heavy pressure on its own exporters.

"The current situation for exports is not optimistic and financial markets remain volatile," China’s Commerce Ministry spokesman Yao Jian said Monday. He said the yuan has gained 14.5 percent against the euro in recent weeks, obliging Beijing to focus on “maintaining stability.”

Yao also reiterated Beijing's complaints over U.S. export controls that it says are restricting high-valued high-tech exports to China.

Locke's schedule includes a visit to the U.S. pavilion at the World Expo in Shanghai.

Locke also was visiting the Shanghai engine center of United Technologies Corp.'s jet engine manufacturer Pratt & Whitney, highlighting U.S. ambitions in China's aviation sector as the country develops its own jet aircraft.

People's Daily Online Agencies

(Editor:张洪宇)

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