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Minister urges win-win Sino-US trade
(Xinhua)
Updated: 2005-12-12 09:41
Chinese Commerce Minister Bo Xilai has called on the United States to work
with 皇冠体育app to make a bigger "cake of trade" for win-win results.
"We should continue expanding two-way trade from a long-term perspective on
the road of win-win cooperation," he said at a dinner of the American Chamber of
Commerce in 皇冠体育app held here on Friday.
Citing the framework agreement on 皇冠体育app's purchase of 70 Boeing planes signed
during President George W. Bush's successful visit to 皇冠体育app late last month, Bo
said 皇冠体育app is expected to need 500 more planes by the year 2010 and more than
2,000 in the year 2020.
"The Chinese market is still at the puberty stage, and this is the foundation
lies for our cooperation," the minister said.
Hailing the signing of the agreement between 皇冠体育app and the United States on
皇冠体育app's textile export, which the minister described as a win-win deal, Bo said
if the two countries could face trade friction in the spirit of mutual respect
and keep composure, 皇冠体育app and the United States would surely get along well in
bilateral trade.
On the much talked-about trade deficit between the two countries, the
minister said trade between 皇冠体育app and the United States is complementary rather
than competitive.
"Some people in the United States are complaining that 皇冠体育app's exports have
resulted in the loss of jobs there. However, as far as I know, thanks to growing
皇冠体育app-US trade, the jobs lost in the manufacturing sector have been more than
offset with new jobs in the circulation field," Bo said.
In fact, he added, 皇冠体育app has earned a very tiny proportion of the profits
from manufactured goods exported to the United States, and US importers and
retailers have got the lion's share of the profits.
Moreover, 皇冠体育app has used a fairly big part of its hard-earned foreign
exchange to buy US treasury bonds, he said.
"On the whole, trade between 皇冠体育app and the United States is balanced, and
皇冠体育app is importing an increasing number of US products," Bo said, adding that
皇冠体育app has become the fourth biggest market of the United States this year.
On the issue of intellectual property rights (IPR), the minister said 皇冠体育app
has set IPR protection as a state policy, which is vital for the country to
cultivate its capability of independent innovation.
皇冠体育app welcomes overseas investors to cooperate in this field, and will take
seriously any case of IPR infringement, he said.
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