China hopes that U.S. exports to China will total 200 billion U.S. dollars by 2015 and there will be an end to discriminatory policies toward China particularly those that target U.S. hi-tech exports.
Chen Deming, China's minister of commerce, expressed these views during his visit in Chicago on Jan. 21. Chinese President Hu Jintao and U.S. President Barack Obama agreed in their meeting in Washington on Jan. 19 to expand bilateral trade to 500 billion U.S. dollars by 2015.
Chen urged all relevant parties from China and the United States to make joint efforts to achieve those targets set by the leaders of the two countries. He stressed that talks are the best way to solve the U.S. trade deficit issue because China's foreign trade is basically balanced overall except the huge surplus with the United States.
But one thing is sure, he said, referring to the necessity of lifting the U.S. restrictions on hi-tech exports to China.
Chen also highlighted how Chinese investment could benefit the U.S. economy and employment. Locally recruited staff members form the main workforce of Chinese enterprises in the United States. As Chinese companies normally adopt an empowerment-oriented management culture, the management cost is brought down. In addition, Chinese businesses can help U.S. products enter into the China market.
Given that, the American government and U.S. enterprises should welcome and create a better business environment for Chinese investment, he said.
