China, US Make Positive Progress in Trade Relations, MOFCOM Vice Minister Says
Xu Wei
/SOURCE : Yicai
China, US Make Positive Progress in Trade Relations, MOFCOM Vice Minister Says

(Yicai Global) Aug 1 -- China and America have made positive progress in the development of economic and trade relations, China's Vice Minister of Commerce Qian Keming said at a Ministry of Commerce news conference today.

The global acceleration of economic growth and the rebound in international trade seen since the start of the year present an improved external environment for China's foreign trade development, Qian said.

The China-US Economic Cooperation 100-Day Plan has achieved important results including the lifting of policy barriers for the export of US liquid natural gas.

China has implemented a plan for the steady growth of foreign trade while putting into action a structural adjustment policy that can further reduce the burden on enterprises and assist import and export enterprises in taking advantage of opportunities to expand overseas, he said.

Other major achievements of China-US cooperation efforts include the export of Chinese cooked poultry to the US, China's approval of five applications for biotechnology products from the US and the return of US beef exports to China.

China is actively promoting liberalization and facilitation of trade and investment by signing a free trade agreement with Georgia, maintaining a multilateral trading system, and calling on World Trade Organization members to fulfill their obligations under Article 15 of the Protocol on China's accession to the WTO.

The domestic and international environment for China's foreign economic and trade in the second half of this year is generally favorable, but there are still several unstable and uncertain factors to consider, Qian added.

China will insist on following a course of steady progress in order to achieve annual economic goals. This includes making great efforts to maintain stable growth in business and trade, promoting reform, making structural adjustments and improving people's livelihood while preventing risk.

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Keywords: Trade , US , LNG