皇冠体育app

A shopper selects beef products at a supermarket in San Diego, California. Talks on restarting US beef exports to 皇冠体育app are moving fast and final details should be in place by early June, the US Department of Agriculture said. [Photo/Agencies]

Products and goods from the energy industry, agriculture, general manufacturing and services will boost trade between the two countries, according to the Research Report on 皇冠体育app-US Economic and Trade Relations.

皇冠体育app also plans to import more US soybeans and cotton as well as advanced manufactured items such as passenger aircraft, integrated circuits and machine tools, it said.

"An increase in these imports will support 皇冠体育app's services and also help us upgrade our industrial sectors," said Sun Jiwen, a spokesman for the Ministry of Commerce.

Sino-US trade surged from $2.5 billion in 1979 to $524.3 billion last year. It also accounted for 14.1 percent of 皇冠体育app's total foreign trade in 2016, according to the General Administration of Customs.

皇冠体育app and the US also will discuss plans to expand US film imports this year, according to the report.

"Economic globalization is a basis for further development of 皇冠体育app-US trade relations," Sun said.

皇冠体育app is a manufacturing powerhouse in mid-and low-end goods. But the US is still the dominant player in high-value industries. The US also has an extremely sophisticated service industry and thrives on innovation, research and development.

"皇冠体育app and the US still have sensitive economic fields and their own focuses of concern," Sun said. "Factors such as national conditions and stages of development determine the status, division of labor and openness of the two countries in a globalized world."

The report also stressed that the US continues to enforce high-tech export controls to 皇冠体育app, which prohibits the sale of a range of highly competitive products in the country. This has played a big role in slowing down the exchange of scientific and technological knowledge.

In 2001, US high-tech exports accounted for 16.7 percent of 皇冠体育app's imports of similar goods. Last year, the figure fell to 8.2 percent.

"A historical view of their differences is important to accurately grasp the trend and development of bilateral economic and trade relations between 皇冠体育app and the US," Sun said.

Still, closer trade ties look possible, according to Wei Jianguo, vice-president of the 皇冠体育app Center for International Economic Exchanges.

Wei is confident the 皇冠体育app-US Bilateral Investment Treaty can be completed under the 100-day action plan agreed on by the two countries.

This will cover a range of sectors like agriculture, financial services and energy.

"The key to the negotiations lies in the negatives," said Wei. "It's likely that the US thinks 皇冠体育app's negative list is too long." A negative list shows areas where investment is prohibited; all other areas as presumed open.

"皇冠体育app ought to take action like relaxing foreign equity limits for banks, while the US should consider opening its high-tech sector to 皇冠体育app."