China, US sign contracts giving weight to cooperation agreement ( 2003-12-19 13:37) (Xinhua)
China signed contracts with the United States on Thursday afternoon to
import US soybeans and eletro-mechanical equipment, a measure adding
substance to a consensus reached earlier this month.
The consensus, between Chinese Premier Wen Jiabao and US President
George W. Bush, is on strengthening economic and trade relations between
the two countries.
The contracts, totaling 1.59 billion US dollars, were signed at the Chicago
Board of Trade (CBOT) by a Chinese enterprise purchasing mission organized
by the China Chamber of Commerce and its US counterparts.
Under the soybean contracts, Chinese companies will buy American
soybeans worth 1.4 billion dollars. They will also purchase 190 million
dollars of US machinery and electronic products.
Chinese Vice Minister of Commerce Liao Xiaoqi, head of the government
economic and trade delegation, attended the signing ceremony.
The delegation said in a news release that the Chinese government
attaches great importance to economic and trade cooperation with the
United States and is vigorously pushing for the steady and healthy
development of their economic and trade ties.
The Chinese government encourages enterprises in their efforts to
increase imports from the United States so as to cut back on the trade
deficit, the delegation said.
The development of China-US economic and trade relations had brought
tangible economic benefits to people of both countries. The relationship,
which was mutually beneficial and highlighted a win-win outcome, would
certainly make a positive contribution to the economic prosperity in their
neighboring countries, and global economic growth at large, it
said.
