22 Jan '11, 1am

China to US: Boost exports to trim surplus

China to US: Boost exports to trim surplus

CHICAGO: China said Friday it would welcome greater US exports to the fast-growing Asian economy, rejecting blame for its large and politically sensitive trade surplus over the United States. As President Hu Jintao wound up a state visit to the United States, Chinese officials appeared to try to shift the focus away from US allegations of currency manipulation and instead stressed business promotion. "Our two countries need to sit down and work it out so there won't be such a huge trade deficit and trade surplus," Chinese Commerce Minister Chen Deming told a business conference in Chicago. Chen voiced hope that US exports to China would more than double to $200 billion by 2015 as part of $500 billion in overall trade. "We still have work to do to get to that $200 billion," Chen said. The latest US data showed that the US deficit with China in 2010 was likely to top the 200...

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

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