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Sino-US trade advances amid problems
By Zhang Yong (China Daily)
Updated: 2004-03-18 23:38 United States Senator Max Baucus of Montana
Thursday positively commented on China's performance on its commitments to the
World Trade Organization (WTO) while noting challenges lie ahead forSino-US
trade relations with a new round of trade tensions simmering.
"Although much remains to be done, much progress has been made,'' the top
Democrat on the US Senate Finance Committee said. The committee has jurisdiction
over international trade issues in the senate.
By and large, the US Government and the American business community realize
how much China has already accomplished, Baucus said.The growing US investment
in China is a validation of his country's efforts in the past two years, he said
during a speech Thursday during his visit to East China's Shanghai.
Baucus is leading a trade mission, mainly composed of business
representatives from his home state. They have been visiting Asia since March 13
in a effort to open more markets to American products and establish more
business connections that will help create US-based jobs.
Sources within the delegation revealed that it has been assured that China
will purchase a significant amount of wheat from the largely rural state this
year.
This is the Montana trade commission's first visit to Shanghai, officials
said, and the state is also seeking business opportunities in transportation and
telecommunications sectors, especially in the prospering East China area.
Baucus also highlighted the issues of the re-valuation of China's currency
and intellectual property rights as key areas of US concern.
Chinese Minister of Commerce Bo Xilai told Baucus on Tuesday in Beijing that
China is willing to further expand US trade and welcomes US enterprises to
participate in Chinese markets.
On the US trade deficit with China, Bo said China has noticed the US concerns
and has adopted a series of measures to resolve the problem.
On the protection of intellectual property rights, China holds a strong and
unswerving stance, Bo said, forging related laws, rules and regulations to crack
down on violations, Bo said.
The senator expressed his concerns about China's value-added taxes on
semiconductor sales and market access issues raised by the country's procurement
laws.
According to Baucus, the US Administration will probably file a WTO action
regarding China's semiconductor sales taxes later this week.
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