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| Sino-US Economic Ties Enhanced |
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In 2005, the Sino-US economic and trade relations were further enhanced, with China becoming the fourth largest export market of the United States, China's Ministry of Commerce said on Tuesday. Figures from Chinese customs also show that in the first 11 months of 2005, the Sino-US trade volume reached US$191.55 billion, up 25.4 percent year on year. During the period, China's export value to the United States grew 31.7 percent to US$147.64 billion, and import value from the United States grew 8.1 percent to US$43.92 billion, with a trade surplus of US$103.72 billion, up 45.1 percent. By October 2005, the United States remained China's largest export market and second largest trade partner, the Ministry of Commerce said, expecting China to become the US second trade partner in the future. Meanwhile the U.S. contracted investment in China totaled US$11.89 billion, up 10.51 percent and involving 3,402 projects. By November 2005, the total contracted US investment was US$110.5 billion, involving 48,667 projects. With the rapid development of bilateral economic ties, the two countries also saw some trade disputes. During the first 11 months of 2005, the United States launched four antidumping investigations and one safeguard investigation against China. (Xinhua News Agency January 11, 2006) |
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