US companies continue to thrive off of exports to China

13:48, August 04, 2010      

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U.S. exports to China continued to grow in 2009 despite the global financial crisis, especially in the fourth quarter, which saw a new record of 20 billion U.S. dollars. Exports to China have become an important source of growth for U.S. companies, according to a report on exports to China released by US-China Business Council (USCBC) Monday.

The data in the report suggest that U.S. exports to China in 2009 are equal to the previous year but dropped by 20 percent to the rest of the world in the same period. And in the first five month this year, U.S. exports to China increased by 39 percent year on year.

"Even with a global recession, American businesses and American workers continue to benefit from expanding opportunities to sell high-value manufactured goods to the China market, the world's fastest growing economy," USCBC President John Frisbie said." It is a clear trend that began in 2000 and continued in 2009."

The report once again confirms the growing importance of the Chinese market for the continued vitality of the U.S. economy.

U.S. exports to China have jumped 330 percent since 2000, compared to 29 percent to the rest of the world. The exports to China in 393 of 435 members of Parliament election districts maintained a three-figure export growth rate. And the economies of all members of Parliament election districts benefit from their exports to China.

By Ma Xiaoning, People's Daily; translated by Zhao Chenyan


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