The China-US economic and trade relations have maintained fast
development momentum since the two countries established diplomatic
ties over 20 years ago, displaying profound basis and great
development potentiality.
As the biggest developing country and developed country in the
world respectively, the mutual complementarity of China and the
United States and the reciprocity of the bilateral trade
cooperation form the foundation for the long-lasting development of
the China-US trade relations.
During Chinese Vice Premier Wu Yi 's visit to the United States in early
April, entrepreneurs of the two countries signed in the Los Angeles
an array of procurement contracts worth US$4.44 billion , which
involved 27 projects ranging from software, power generation
equipment to automobiles and electronic products.
According to statistics from China's General Administration of
Customs, the United States remained the second largest trading
partner of China in the first two months of this year, with
bilateral trade volume of US$33.29 billion, up 25.3 percent year on
year.
Of the figures, the export and import volumes of China stood at
US$25.48 billion and US$7.8 billion, up 27.3 percent and 19.3
percent, respectively.
The China-U.S. trade volume reached US$211.63 billion in 2005,
86 times more than that of 1979 when their diplomatic ties were
established. From 2001 to 2005, the bilateral trade volume
maintained an average annual growth of 27.4 percent.
China has become the fourth largest export market and the third
largest trade partner of the United States, while the US is the
second largest trade partner of China.
The United States has invested in nearly 50,000 projects in
China with actual investment exceeding US$50 billion.
(Xinhua News Agency April 12, 2006)