Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200806/20080617/article_363541.htm
China signs deals with American firms worth US$13.6b
Created: 2008-6-17 12:12:08, Updated: 2008-6-17 15:47:51
Author:Lydia Chen
CHINA has committed the country to deals worth US$13.6 billion after signing 71 contracts and three investment compacts with American counterparts in Washington DC and Missouri yesterday.
The deals came just one day before senior officials from the two nations begin two-days of strategic economic dialogue at the US Naval Academy in Annapolis, Maryland.
The deals, trumpeted at two ceremonies attended by Vice Premier Wang Qishan and Commerce Minister Chen Deming in St. Louis and Washington yesterday, covered 11 US products, including soybeans, energy-saving electronic goods, telecommunications products, airplane engines, mechanic facilities and semiconductors.
China also agreed to import 81,500 US-made automobiles and launch three investment projects in the United States that totaled US$306 million, the Ministry of Commerce said in a statement on its Website today.
US-based firms such as General Motors Corp, Ford Motor Co, Cisco Systems Inc, IBM Corp and Motorola Inc were all beneficiaries of the deals inked by the Chinese delegation comprised of 120 companies, the statement said.
The Chinese delegation is expected to hold 18 trade promotion activities in 14 cities across 11 states during the trip, the statement said.
As the world's biggest developing country, China's economy was highly complementary with that of the United States and strengthened trade ties will be in line with the fundamental interests of both nations, Chen said at the ceremony.
Trade volume between China and the United States rocketed to US$302.1 billion in 2007, more than 120 times compared to the less than US$2.5 billion in 1979.
At present, the US is China's second-largest trade partner, following the European Union. The US is also China's second biggest export destination. The volume of technology imports from the US ranked third among China's trade partners, the statement said.
Wang, the Vice Premier, is due to co-chair the annual economic talk with US Treasury Secretary Henry Paulson today.
Wang's entourage includes ministers and other senior officials from related departments of China's State Council.
Paulson will be joined by other top members of George W. Bush Administration, including Commerce Secretary Carlos Gutierrez, Labor Secretary Elaine Chao and Mike Leavitt, secretary of health and human services.
Jointly launched by President Hu Jintao and President Bush in September, 2006, the dialogue is held twice a year, alternating between the two countries.
The previous meeting was held in December 2007 in Beijing, China.
The deals came just one day before senior officials from the two nations begin two-days of strategic economic dialogue at the US Naval Academy in Annapolis, Maryland.
The deals, trumpeted at two ceremonies attended by Vice Premier Wang Qishan and Commerce Minister Chen Deming in St. Louis and Washington yesterday, covered 11 US products, including soybeans, energy-saving electronic goods, telecommunications products, airplane engines, mechanic facilities and semiconductors.
China also agreed to import 81,500 US-made automobiles and launch three investment projects in the United States that totaled US$306 million, the Ministry of Commerce said in a statement on its Website today.
US-based firms such as General Motors Corp, Ford Motor Co, Cisco Systems Inc, IBM Corp and Motorola Inc were all beneficiaries of the deals inked by the Chinese delegation comprised of 120 companies, the statement said.
The Chinese delegation is expected to hold 18 trade promotion activities in 14 cities across 11 states during the trip, the statement said.
As the world's biggest developing country, China's economy was highly complementary with that of the United States and strengthened trade ties will be in line with the fundamental interests of both nations, Chen said at the ceremony.
Trade volume between China and the United States rocketed to US$302.1 billion in 2007, more than 120 times compared to the less than US$2.5 billion in 1979.
At present, the US is China's second-largest trade partner, following the European Union. The US is also China's second biggest export destination. The volume of technology imports from the US ranked third among China's trade partners, the statement said.
Wang, the Vice Premier, is due to co-chair the annual economic talk with US Treasury Secretary Henry Paulson today.
Wang's entourage includes ministers and other senior officials from related departments of China's State Council.
Paulson will be joined by other top members of George W. Bush Administration, including Commerce Secretary Carlos Gutierrez, Labor Secretary Elaine Chao and Mike Leavitt, secretary of health and human services.
Jointly launched by President Hu Jintao and President Bush in September, 2006, the dialogue is held twice a year, alternating between the two countries.
The previous meeting was held in December 2007 in Beijing, China.
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