12 Feb '12, 12pm

China vows to pursue balanced trade with US

China vows to pursue balanced trade with US

SHANGHAI: A top Chinese official on Sunday vowed Beijing would pursue more balanced trade with the United States, as the country's Vice President Xi Jinping prepares for an official US visit. Xi, the country's leader-in-waiting, is likely to face a barrage of complaints over China's allegedly discriminatory trade policies when he visits the United States in the coming week. Trade tensions between the world's two largest economies are on the rise as US President Barack Obama seeks to spark economic growth and create jobs -- and bids for re-election -- by attacking the deep US trade deficit with China. China's Vice Minister of Commerce, Gao Hucheng, said both countries should make efforts to address the imbalance. "The imbalance in bilateral trade is a fact," Gao was quoted by the official Xinhua news agency as saying. "Both sides must gradually resolve it in the course of a...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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