SHANGHAI (AP) - China expects some trade friction with the United States but
views stable economic ties as crucial, a top Chinese trade negotiator said, as a
trade mission signed more than two dozen contracts on products such as software,
autos and soybeans.
Washington and Beijing should resolve disputes in a spirit of "objectivity,
equality and consultation and avoid politicizing economic and trade issues,''
the official Xinhua News Agency quoted Vice Premier Wu Yi as saying at a signing
ceremony in Los Angeles.
She said a mutually beneficial trade relationship is crucial for overall
China-U.S. relations, though some friction is to be expected, Xinhua reported.
At the ceremony, businesses signed 27 deals worth some US$4.44 billion
(euro3.6 billion), Xinhua reported.
Meanwhile, 13 Chinese soybean processing companies signed 10 contracts on
Thursday in Chicago to buy a total 4.98 million metric tons of soybeans and
20,000 tons of U.S. soy oil in calendar year 2006, Dow Jones Newswires reported.
Wu, China's former trade minister, is leading a delegation of 202 Chinese
entrepreneurs that is to visit 13 states, according to the Chinese Foreign
Ministry.
The mission presumably is seeking to smooth tensions ahead of a visit to
Washington by Chinese President Hu Jintao in mid-April.
"They will sign many contracts and agreements with the U.S. companies and
enterprises,'' Foreign Ministry spokesman Liu Jianchao said at a regular
briefing in Beijing on Thursday.
"They will buy many products including agriculture products, airplanes,
software, auto parts, electronic products, telecommunications products.''
Qianlong.com, the official Web site of the Beijing city government, said
China was expected to buy 80 Boeing planes following its purchase in November of
70 Boeings.
That deal was worth about US$4 billion (euro3.3 billion), although buyers
typically get discounts on large orders.
The delegation includes representantives from many businesses who usually do
not travel with senior Chinese leaders, the state-run newspaper China Daily
reported, citing an unnamed Foreign Ministry official.
The mission hopes to establish long-term ties with companies in the American
mid-West, to boost future imports and ensure the deals are not a "one-off''
event, the official was quoted as saying.
Hu's visit comes amid mounting pressure on U.S. President George W. Bush to
take action on China's surging trade surplus with the United States, which
reached a record US$202 billion (euro164 billion) last year.
Washington wants Beijing to loosen its currency controls and let the
yuan trade freely on world markets, and also strengthen intellectual property
rights protection and expand market access for U.S. products.
U.S. officials say the yuan is undervalued by up to 40 percent and gives an
unfair advantage to Chinese manufacturers at the expense of American
competitors.
U.S. Commerce Secretary Carlos Gutierrez, visiting Beijing last month, warned
Chinese leaders that they could face growing protectionist sentiment in the
United States if their country's trade surplus continues to grow.
In Washington, Wu is to co-chair a meeting of the U.S.-China Joint Commission
on Commerce and Trade with Gutierrez.
At a meeting last July of that panel, which includes top economic officials
of both countries, China made a number of commitments aimed at boosting U.S.
exports.