China will send a delegation to the United States to explore
ways to increase its imports from the United States and reduce
Washington's deficit in bilateral trade.
Wan Jifei, president of the China Council for
the Promotion of International Trade (CCPIT) made these remarks
at a press conference yesterday, which was co-hosted by the CCPIT
and the US-China Business Council (USCBC).
Wan said a cool-headed and objective analysis of the US deficit
in bilateral trade is needed, adding the main reason for the
deficit is that many US companies invest in China and export their
products to the United States.
Wan said one way to reduce the deficit is to buy more US
products and what China needs are electronic, aviation and chemical
industrial products.
However, the US government has restricted exports of these
products. Wan urged the US to change its policies.
Christopher Calvin, chairman of the USCBC, said he believes
China will complete WTO compliance and change the trade imbalance.
He said China has made progress in WTO compliance "thoughtfully and
progressively," but "there is still room for improvement."
Founded in 1973, the USCBC is a private, non-profit organization
of US corporations engaged in business relations with China.
The USCBC delegation is visiting China to celebrate 30 years of
co-operation with the CCPIT.
(Xinhua News Agency October 30, 2003)