Chinese Vice Premier tells U.S. to ease export barriers

July 20, 2017

WASHINGTON – China’s Vice Premier, Wang Yang, has called on the United States to relax export barriers against China and allow the two sides to tap the huge market potential in bilateral trade, the State newsagency, Xinhua, reports.

"The Chinese and U.S. economies do have a competitive dimension, but there is far greater complementarity than competition," Xinhua quoted Wang as saying at a business luncheon in Washington ahead of the first China-U.S. Comprehensive Economic Dialogue..

As the Chinese economy continued to grow at a medium-high speed and climb higher on the value chain, China's traditional industries are transformed and upgraded at a faster pace, and emerging industries flourish, he said.

"Unfortunately, American businesses have not had their fair share of the 'cake' due to outdated U.S. regulations on export control," he said, noting that while U.S. high-tech exports to China accounted for 16.7% of China's total imports of such products in 2001, the percentage dropped to 8.2% last year.  www.webershandwick.cn (ATI).