BIZCHINA / Weekly Roundup

Record trade surplus
(China Daily)
Updated: 2006-07-17 11:33

Promoting high-tech exports

The United States is expected to promote its high-tech exports to China to ease the trade imbalance between the two economies, said commerce ministry spokesman Chong Quan.

His remarks followed the preliminary rules on US export controls to China, which were published by the US government last week.

The United States has revised export control rules relating to technology exports to China. The rules affect 47 categories of high-tech products.

"We hope the US will get rid of the conception of a Cold War, and will take constructive measures to promote two-way high-tech trade, to help solve the trade imbalance between our two countries," said Chong.

Top traders' contributions

The trade volume of China's top 500 traders totalled US$604.8 billion last year, according to statistics released last week by the Ministry of Commerce.

Their businesses accounted for 42.6 per cent of the country's total exports and imports.

In a statement on its website, the ministry said the threshold of the top 500 trading companies increased to US$300 million last year from US$260 million in 2004, while the average export volume increased to US$1.18 billion from US$910 million in 2004.


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