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English>>China Business

China now top export destination for most of US

By Tan Yingzi  (China Daily)

08:16, August 09, 2012

All but 15 of the 435 districts represented in Congress recorded larger numbers of goods sold to China than to other export markets in 2011, according to a leading business group.

The US-China Business Council, which represents US companies that do business with China, also found that in 418 of those 420 congressional districts, the growth in exports to the country hit triple digits between 2002 and 2011.

"Exports to China contribute to America's economic recovery and support good jobs for American workers.

"China is the third-largest US export market and continues to provide growing opportunities for US businesses, large and small," said the council's vice-president, Erin Ennis.

Canada and Mexico are the top two US export markets, largely due to their proximity to the United States and participation in the North American Free Trade Agreement.

From 2000 through 2011, US exports to Canada increased by $102 billion, followed by China ($88 billion), Mexico ($86 billion) and Brazil ($28 billion), the business council's report said.

To add jobs, President Barack Obama in January 2010 introduced a plan to double US exports by 2014, which will require annual growth of at least 15 percent on average for five straight years.

Tuesday's report by the council noted that China is the only large US export market that has exceeded this goal in the past two years.

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