Healthy Sino-US Economic/Trade Cooperation Keeps on

The two-way trade between China and the United States continues its growth trend in 2001. US direct contractual investment and actually implemented investment in China both reported a large margin of increase over the same period last year. Economic and trade cooperation between the two countries maintains a healthy development.

According to statistics of the Customs, from January to May this year, Sino-US two-way trade reached a total of US$30.4 billion. Of these, China's exports to the US amounted to US$20.32bn, up by 7.6% over the same period last year; China's imports from the US hit US$10.1bn, up 20.9%. Sources from the Ministry of Foreign Trade and Economic Cooperation show that in the first five months this year US direct contractual investment in China topped US$2.798bn, up 25.95% over the same period last year, and the actually applied investment amounted to US41.363bn, up 41.02%.

By the end of last May, projects funded by US enterprises in China totaled 32,264 with a contractual investment amount of US$63.409bn and an actually applied investment to US$31.395bn. The US has become the biggest investor topping the others in China excluding Hong Kong and Taiwan. Of the 500 largest US companies, over half have invested in China. US tertiary industries have developed rapidly in China. Its insurance companies, commercial banks, commercial companies and commodities agencies also have entered Chinese market.

According to statistics made known, Sino-US two-way trade in 2000 amounted to US$74,47bn. The US has become the second largest trade partner of China as well as the largest market of China's exports. China has been made the fourth largest trade partner of the US. In the past 20 years, the trade volume between the two countries increased by over 18% on average annually. The US is one of the markets that witnessed the quickest growth in China's exports. In the past 10 years, US-to-China exports increased by over 16% on average annually.

A sustainable development of Sino-US economic and trade cooperation has promoted economic growth and a change in employment situation of the two countries. A recent American forecast shows that after China enters the WTO, it will suck in much more foreign investment, among which, quite a large proportion will come from the US. Sino-US trade will also keep up a rapid growth.

It has become a common consensus among American enterprises and political circles to further enlarge the proportion of American products in Chinese market and vigorously promote Sino-US economic and trade relationship. Steve Van Andel, the newly appointed chairman of US Chamber of Commerce and president of US AMWAY Corporation told the journalist that China reports the most quickly economic growth across the world. To ensure a favorable relationship between China and the US, the two largest markets in the world, and to promote further mutual exchanges and understanding between the two countries is in keeping with the fundamental benefits of the two peoples in China and the US.

By PD Online Staff Du Minghua

People's Daily Online ---