American companies are losing business opportunities and market share in China because of the export control policy against China, said Chinese Commerce Minister Chen Deming on Monday in Washington.
"Because the US restricts its export of high technology to China, American companies suffered a lot in terms of losing market share in China, " Chen said at a press briefing during the economic track of the third round of US-China Strategic and Economic Dialogue (S&ED), which kicked off here Monday.
"The current imbalance in trade between the two countries is the result of multiple reasons, and also a result of many years of trade imbalance," Chen said.
He said that the two sides addressed trade imbalance issue among other economic topics during the morning session of the economic dialogue.
"The way to resolve the imbalance is to ease the export control regime of the United States toward China and to encourage US export to China rather than restricting Chinese export to the United States," he added.
China is the United States' second-largest trading partner and its third-largest export market, with bilateral trade totaling about $385 billion dollars in 2010, according to Chinese customs statistics.
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"Because the US restricts its export of high technology to China, American companies suffered a lot in terms of losing market share in China, " Chen said at a press briefing during the economic track of the third round of US-China Strategic and Economic Dialogue (S&ED), which kicked off here Monday.
"The current imbalance in trade between the two countries is the result of multiple reasons, and also a result of many years of trade imbalance," Chen said.
He said that the two sides addressed trade imbalance issue among other economic topics during the morning session of the economic dialogue.
"The way to resolve the imbalance is to ease the export control regime of the United States toward China and to encourage US export to China rather than restricting Chinese export to the United States," he added.
China is the United States' second-largest trading partner and its third-largest export market, with bilateral trade totaling about $385 billion dollars in 2010, according to Chinese customs statistics.
Weekly review May 05 Fight against terrorism should strike at roots April 29 'Human rights overriding sovereignty' only a mask of hegemony May 04 Human rights dialogues need mutual understanding May 03 Highlights of China's sixth national census results May 07 The week in pictures May 03 Expats seeking opportunities in China May 04 Some Chinese colleges face decreasing enrollment, struggle to survive May 05 French leader: China's peaceful rise puts world at ease April 29 Ten most valuable cultural relics displayed at Xi'an exposition park May 03 US kills Bin Laden, ending 10-year manhunt
