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People's Daily Online>>China Business

China-U.S. trade up 17% in first ten months: commerce minister


14:47, December 03, 2011

BEIJING, Dec. 2 (Xinhua) -- Commerce Minister Chen Deming said Friday that China-U.S. trade rose 17 percent year-on-year to reach 363 billion U.S. dollars in the first ten months of the year.

The increase led to China and the United States becoming each other's second-largest trading partners, Chen said at a dinner held by the American Chamber of Commerce in China (AmCham-China).

Trade between China and the United States will likely exceed 400 billion U.S. dollars in 2011 and the figure will further increase in 2012 according to forecasts from the ministry and customs authorities, Chen said.

"Next year will be a difficult year (for global economy), and a year in which China and the United States should deepen cooperation and join hands in coping with the crisis," Chen told Chinese and American entrepreneurs who attended the banquet.

Chen said the growth rate of the world's second largest economy will stay above 9 percent this year.

China's GDP growth dropped to a two-year low of 9.1 percent in the third quarter of the year, down from 9.5 percent in the second quarter and 9.7 percent in the first quarter, according to the National Bureau of Statistics.

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