U.S. export control against China hurting American firms: Chinese minister

08:44, May 10, 2011      

Email | Print | Subscribe | Comments | Forum 

Chinese Commerce Minister Chen Deming speaks at a press briefing during the economic track of the third round of U.S.-China Strategic and Economic Dialogue (S&ED) in Washington D.C., the United States, May 9, 2011. The American companies are losing business opportunities and market share in China because of the export control policy against China, Chen said on Monday in Washington. (Xinhua/Yang Jian)

The American companies are losing business opportunities and market share in China because of the export control policy against China, said Chinese Commerce Minister Chen Deming on Monday in Washington.

"Because the U.S. restricts its export of high technology to China, American companies suffered a lot in terms of losing market share in China, " Chen said at a press briefing during the economic track of the third round of U.S.-China Strategic and Economic Dialogue (S&ED) which kicked off here.

"The current imbalance in trade between the two countries is the result of multiple reasons, and also a result of many years of trade imbalance," Chen said.

He said that the two sides addressed trade imbalance issue among other economic topics during the morning session of the economic dialogue.

"The way to resolve the imbalance is to ease the export control regime of the United States toward China and to encourage U.S. export to China rather than restricting Chinese export to the United States," he added.

Chen noted that the U.S. export control policy will not help U. S. government's goal of doubling export in five years and creating jobs in the U.S.

He said that China's trade is balanced with the rest of the world except the U.S.

China is the United States' second-largest trading partner and its third-largest export market, with bilateral trade totaling about 385 billion U.S. dollars in 2010, according to Chinese customs statistics.

The two sides also shared their views in terms of bilateral investment, the exploration of new economic cooperation areas and coordination in the multilateral arena, including Doha Round talks, Chen added.

During the first session of economic track dialogue, leaders of both sides said that the two countries need to build closer ties.

The two-day S&ED is co-chaired by Chinese Vice Premier Wang Qishan, State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner.

The dialogue mechanism was upgraded from former Strategic Dialogue and biennial Strategic Economic Dialogue, which were initiated by the two heads of state in 2005 and 2006, respectively.

 
 
     
 
BRICS Leaders Meeting 2011
 
Japan in aftershocks
 
     
 
 
 
  Weekly review  
 
May 05   Fight against terrorism should strike at roots
 
April 29   'Human rights overriding sovereignty' only a mask of hegemony
May 04   Human rights dialogues need mutual understanding
May 03   Highlights of China's sixth national census results
May 07   The week in pictures
May 03   Expats seeking opportunities in China
May 04   Some Chinese colleges face decreasing enrollment, struggle to survive
May 05   French leader: China's peaceful rise puts world at ease
April 29   Ten most valuable cultural relics displayed at Xi'an exposition park
May 03   US kills Bin Laden, ending 10-year manhunt
 
     
 
 

(Editor:梁军)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Al-Qaeda leader Osama bin Laden dead
  • BRICS Leaders' Meeting 2011
Major headlines
Editor's Pick
  • China's 7th naval escort squad returns home from Somali waters
  • Fashion show promotes soft image of Pakistan's Peshawar
  • Parts of Chinese National Library ready for reconstruction
  • Funeral held for victims in Cairo's Coptic church clashes
  • Israel slates 1 bln USD for Iron Dome rocket interceptors
  • Victory Day marked in Russia's Vladivostok
Hot Forum Dicussion