Economy

    US high-tech export curbs 'cause of deficit'

    By Ding Qingfen (China Daily)
    Updated: 2010-12-16 09:03
    Large Medium Small

    US high-tech export curbs 'cause of deficit'

    BEIJING - Restrictions on high-tech exports to China, rather than the Chinese currency, are the "major source" of the US trade deficit with China, the Ministry of Commerce (MOC) said on Wednesday.

    The ministry said that China will bring the issue to the negotiating table during the two-day China-US Joint Commission on Commerce and Trade to be held in Washington.

    The ministry also said it would give a commitment to boost imports to help balance trade next year.

    Earlier this week, two US senators said they are seeking legislation to place high duties on Chinese exporters in response to what they call China's "undervalued currency".

    The US also said it will raise the currency issue during the China-US meeting on Wednesday.

    "The US politicians' frequent arguments of proposing legislation is based on inaccurate analysis and non-objective evaluation," said ministry spokesman Yao Jian.

    The major reason behind the trade imbalance is "US export control", Yao said.

    It is estimated that only 7 percent of China's high-tech imports, in terms of value, are from the US.

    Many economists also echoed the ministry's view.

    Related readings:
    US high-tech export curbs 'cause of deficit' Yuan appreciation no solution to world trade imbalance
    US high-tech export curbs 'cause of deficit' China, US start trade talks in Washington
    US high-tech export curbs 'cause of deficit' Sino-US trade talks to tackle IPR and beef
    US high-tech export curbs 'cause of deficit' Behind China's trade surplus with United States

    "How to address the trade imbalance depends on whether the US would like to loosen restrictions on high-tech exports to China, rather than concentrate on yuan appreciation. If there were no such controls, China's imports from the US would rise sharply and the US trade deficit would narrow," said Yao Zhizhong, senior researcher on China-US economic and trade relations with the Chinese Academy of Social Sciences.

    From 2005 to 2008, China's yuan gained 21.1 percent against the dollar, but during the same period, the US deficit with China still widened.

    "This fully shows currency appreciation cannot solve the trade imbalance," said Zhang Yesui, Chinese ambassador to the US, at a recent forum.

    According to Yao, the top two concerns for China's exporters are "rising costs and yuan appreciation".

    Vice-Premier Wang Qishan led a delegation comprised of 100 officials to the Washington meeting, during which "China will urge the US to take substantive measures to loosen restrictions on its exports to China, especially high-tech products", said Yao.

    "Both sides agreed that maintaining healthy and stable Sino-US economic relations concerns the fundamental interests of the people of the two countries," said a Xinhua report.

    Other topics China is concerned about include recognition of China's market economy status, lowering barriers for Chinese investment in the US and agricultural exports to the US.

    According to statistics from the customs, from January to November, China's imports from the US grew by 32.2 percent from a year earlier, while its exports to the US rose 29.5 percent year-on-year.

    日韩欧精品无码视频无删节| 日本中文字幕免费看| 免费无码中文字幕A级毛片| 亚洲A∨无码无在线观看| 国产中文字幕在线视频| av大片在线无码免费| 亚洲中文久久精品无码ww16| 在线天堂中文WWW官网| 国产拍拍拍无码视频免费| 无码精品A∨在线观看免费| 99久久无色码中文字幕人妻| 久久无码av三级| 无码人妻精品一区二区在线视频| 最好看的中文字幕2019免费| 无码人妻精品一区二区蜜桃AV| 日韩精品无码熟人妻视频| 精品亚洲AV无码一区二区三区| 亚洲av中文无码乱人伦在线播放| 99热门精品一区二区三区无码| 午夜不卡久久精品无码免费| 久久久久av无码免费网| 中文字幕一区一区三区| 日本中文字幕一区二区有码在线| 久久久久久亚洲精品无码| 午夜亚洲AV日韩AV无码大全| 无码av高潮喷水无码专区线| 中文字幕在线一区二区在线| 久久久久久综合一区中文字幕| 中文毛片无遮挡高潮免费| 无码人妻丰满熟妇区五十路| 无码人妻丰满熟妇啪啪| 无码精品人妻一区二区三区影院 | 中文字幕一区一区三区| 亚洲成人中文字幕| 日本久久久精品中文字幕| 欧美日韩国产中文字幕| 欧美日韩不卡一区二区三区中文字| 亚洲成人中文字幕| 中文字幕日韩精品在线| 久久久久亚洲AV片无码下载蜜桃| 丰满日韩放荡少妇无码视频|