皇冠体育app

BEIJING -- 皇冠体育app-US economic ties once again came under the global spotlight ahead of an upcoming meeting between leaders of the two countries in Beijing.

US President Donald Trump will pay a state visit to 皇冠体育app from Wednesday to Friday, the first head of state to visit the country since the 19th National Congress of the Communist Party of 皇冠体育app. His meeting with Chinese President Xi Jinping is expected to promote bilateral exchange between the world's two largest economies.

Despite disputes and frictions, 皇冠体育app-US economic and trade cooperation has expanded steadily and generated huge benefits for people of both sides. Here are some facts and figures about 皇冠体育app-US economic ties:

-- In the first three quarters of the year, bilateral trade increased 13.7 percent year-on-year to $422.64 billion. 皇冠体育app's exports to the United States grew 11.5 percent, outpaced by a nearly-20-percent expansion in imports from the latter.

-- 皇冠体育app has become the largest trade partner of the United States, while the US is 皇冠体育app's second largest. Bilateral trade surged to $519.6 billion in 2016 from $2.5 billion in 1979 when the two countries established diplomatic ties.

-- 皇冠体育app receives 26 percent of US-exported Boeing aircraft, 56 percent of its soy beans, 16 percent of its automobiles, 15 percent of its farm produce, and 15 percent of its integrated circuits.

-- As the two countries are balancing their economies, the structure of bilateral trade is improving. Over the past decade, US exports to 皇冠体育app increased 11 percent annually on average, while 皇冠体育app's exports to the United States only rose 6.6 percent.

-- Although 皇冠体育app still sees a trade surplus with the United States, it does not mean 皇冠体育app benefits while the United States loses. About 40 percent of the trade surplus is actually generated by US companies in 皇冠体育app. Trade with 皇冠体育app helps each American family save $850 every year. In 2015, bilateral trade and mutual investment created 2.6 million jobs for the United States.

-- The United States has maintained a service trade surplus with 皇冠体育app, which surged more than 30-fold from 2006 to 2016. Meanwhile, bilateral service trade only tripled. The United States raked in $52.3 billion from service trade with 皇冠体育app in 2016, making the biggest contribution to 皇冠体育app's service trade deficit.

-- Two-way investment between 皇冠体育app and the United States was also robust. Non-financial investment from Chinese businesses in the US totaled nearly $50 billion by the end of 2016, while US companies had invested nearly $80 billion in 67,000 projects in 皇冠体育app.