Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Home > News Brief > China
President Hu calls for joint efforts to resolve China-U.S. trade imbalance
Latest Updated by 2006-04-21 11:33:37
Related News
Hu Jintao visits Microsoft headquarters
Hu meets Bush, discussing trade, Taiwan, and security
US, China sign memorandum on air marshals co-op
Hu, Bush stress importance of enhanced cooperation
President Hu calls for reciprocal, win-win result in Sino-U.S. ties
Chinese president arrives in Washington
President Hu calls for reciprocal, win-win result in Sino-U.S. ties
China appreciates US commitment to one-China policy: Hu
Hu says China will keep to path of peaceful development
China to set up effective system for IPR protection
President Hu calls for joint efforts to resolve China-U.S. trade imbalance
KFC forced to re-shoot TV advertisement

>>>Click into related special: President Hu Visit Five Countries

Visiting Chinese President Hu Jintao on Wednesday in Seattle called for joint efforts to resolve the issue of trade imbalance between China and the United States.

Speaking at a luncheon here hosted by the Washing State, the Seattle business community and local organizations, Hu said China took trade imbalance between the two countries seriously and worked hard to address the issue.

"China continues to implement the policy of expanding domestic demand to drive its economic and social development," he said. "China does not seek a large trade surplus."

The Chinese president said his country's trade surplus with the United States, fundamentally speaking, results from different industrial restructuring of the two countries and the accelerated international division of labor driven by economic globalization.

At least 90 percent of U.S. imports from China are goods that are no longer produced in the United States, he said.

Hu added that China had been increasing import from the United States and worked hard to reduce its trade surplus with the country.

China will further open its market to U.S. goods and services, the president noted.

"On our part, we hope that the United States will take steps to promote the export of U.S. products to China, including easing export controls and reducing protectionist measures in the interest of addressing the trade imbalance issue in a better and more effective way," Hu said.

On the protection of intellectual property rights (IPR), Hu said China was firm in protecting the IPR and fighting piracy.

"We will continue to improve the legal regime for IPR protection, set up law enforcement and crack down hard on IPR infringement to protect the lawful rights and interests of foreign IPR proprietors in China in accordance with the law," Hu said.

China will continue to strengthen cooperation in IPR protection with the United States and the international community, he noted.

As for the issue of the RMB exchange rate, Hu said China had taken "a highly responsible attitude" in deciding upon an exchange rate regime suitable to its national conditions in light of the actual state of its economic and social development and the need to ensure global financial and economic stability.

He noted that last July, China put in place a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies.

China will continue to firmly promote financial reforms, improve the RMB exchange rate setting mechanism, develop the foreign exchange market, increase the flexibility of the RMB exchange rate, and improve the capacity of financial institutions to set prices at their own discretion and to conduct risk management, Hu said.

"Our goal is to maintain the RMB exchange rate basically stable at an adaptive and equilibrium level," said the president. "This serves the interests of China, the interests of the United States and the common interests of all countries in Asia and the world at large."

On the issue of energy and resources, Hu said, "As China's economy continues to grow, so does its demand for energy."

China, as a major energy consumer and producer, "follows the basic principle of meeting its energy needs mainly through domestic supply," he said.

China places equal importance on energy development and conservation and focuses on more efficient use of energy, Hu said.

He said that since the 1990s, China had met over 90 percent of its energy demand with domestic supply.

In 2010, China's per capita gross domestic product (GDP) is projected to double that of year 2000 and the energy consumption per unit of GDP is to be reduced by 20 percent from that of 2005, Hu said.

"At the same time, China will speed up changing the pattern of economic growth, vigorously develop a circular economy and build a resource-conservation and environment friendly society to achieve sustainable development," said the president.

He promised that China would follow international practices and work together with the United States and other countries to conduct energy cooperation and maintain order in the international energy market.

Hu arrived here Tuesday for his first state visit to the United States, with Seattle being the first stop of his four-day stay in the country which ends on Friday.

The United States is the first leg of his five-nation tour, which will also take him to Saudi Arabia, Morocco, Nigeria and Kenya.

Editor: Yan

By: Source: China View website
Previous:  China to set up effective system for IPR protection  Next:KFC forced to re-shoot TV advertisement

Magellanic Penguins love "red gloves"

A "tree" made of 100,000 pairs of chopsticks

[Group Photo]Xiangjiang Safari Park

Las Vegas Sands Co. invests 2 bn USD in Hengqin Island

Cruise family now have 3 members: Tom, Katie, Suri
This site contains material from other media for content enrichment purpose only.
The website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of are those of the authors and/or publishers. The website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact within thirty (30) days. Email:
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips