China's NTR Status in US Beneficial to HK: OfficialSecretary for Commerce and Industry Chau Tak Hay Friday said that he welcomed the US House of Representatives' vote defeating a resolution to disapprove President Bush's decision to extend China's Normal Trade Relations (NTR) status for another year."We are very pleased with the outcome of the NTR vote in the U. S. House of Representatives," Chau said. "Extending China's NTR status is not only in the interest of the Chinese mainland and the U.S., but also beneficial to Hong Kong because the Chinese mainland and the U.S. are our largest trading partners." The U.S. House of Representatives voted on July 19 (Washington time) to reject the disapproval resolution. The legislation passed last year by the U.S. Congress granting China Permanent Normal Trade Relations status will come into force upon China's accession to the World Trade Organization. |
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