BEIJING, Oct. 1 2002 (PNA/Xinhua) -- Two-way trade between China and
the United States may reach US$92 billion this year if it continues to
grow at the current rate of 14.6 percent, trade analysts said.
China-US trade from January to August this year added up to
US$60.2 billion, up 14.6 percent. While China's exports to the US
increased 22.7 percent to reach US$43 billion worth of goods, its
imports of US goods decreased 1.7 percent to US$17.18 billion.
China's exports to the US were mainly machinery and electronic
products, textile products, toys, footwear, furniture, base metal,
plastic and rubber products, and fur and leather. US exports to China
were mainly machinery, electronic products, chemicals, medical
equipment and medicine, optical goods and aircraft.
Trade is now an important part of China-US relations, stressed
very often as leaders of the two countries meet.
US President George W. Bush's visit to China and Chinese
Vice-President Hu Jintao's visit to the U.S. earlier this year, as
well as visits by economic and trade officials of the two sides, have
greatly fueled the growth of trade between the two countries,
analysts said.
In addition, China's reduction of tariffs following its entry into
the World Trade Organization, and its strong economic growth,
together with the US economic recovery were the main factors leading
to the trade growth.
The U.S. is now the second largest trading partner of China after
Japan. (PNA/Xinhua)
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