Subscribe free to our newsletters via your
. Space Travel News .




TRADE WARS
China vows to boost imports ahead of US talks
by Staff Writers
Shanghai (AFP) April 30, 2012


Beijing on Monday unveiled guidelines aimed at boosting imports, just days ahead of a key meeting with the United States expected to address China's politically sensitive trade surplus.

The powerful State Council, or cabinet, said China would "appropriately" increase the scale of imports to encourage more balanced trade and reduce trade friction, according to a document posted on the central government website.

China would boost imports of hi-tech equipment, key components and energy products, said the document.

China's massive trade surplus with the United States is controversial and US officials have long accused Beijing of keeping the value of its currency artificially low to boost exports.

The two countries will hold talks on Thursday and Friday expected to address a range of issues, including complaints about China's trade practices.

They have a number of outstanding trade disputes, including accusations by US companies that Chinese firms are dumping solar products in the American market.

The US trade deficit with China reached a record high of more than $295 billion in 2011, according to US figures.

China defends its exchange rate regime, saying it is moving gradually to make its currency more flexible. Earlier this month, China loosened some controls over the yuan by allowing a broader trading band.

Beijing has also called on the United States to loosen its controls on exports of hi-tech products to China, some imposed to prevent sensitive US technology from being used for military applications.

The State Council said boosting imports would help increase domestic consumption as the government seeks other drivers for the economy besides exports and state spending.

The government would support the drive by cutting import taxes on products China lacks or cannot produce, while offering financing to support imports, it said.

China's overall trade surplus narrowed to $155.14 billion last year from $181.51 billion in 2010, according to official figures, and economic woes in key overseas markets are expected to further shrink the trade gap.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
US urges financial reform in China ahead of talks
San Francisco (AFP) April 26, 2012
The United States on Thursday urged China to undertake financial reform that would help to level the playing field between the two largest economies, in advance of high-level talks next week. "Financial reform in China will help reduce one of the main advantages China's state-owned enterprises have in competing with US companies," Treasury Secretary Timothy Geithner said in a San Francisco s ... read more


TRADE WARS
Indian rocket being fuelled for Risat-1 launch

Assembly begins for the third Ariane 5 to be launched in 2012

ILS Proton Successfully Launches Y1B Satellite For Yahsat

SpaceX aims for May 7 launch to ISS

TRADE WARS
New form of Mars lava flow dicovered

100 Days and Counting to NASA's Curiosity Mars Rover Landing

Durable NASA Rover Beginning Ninth Year of Mars Work

Surviving the conditions on Mars

TRADE WARS
India's second moon mission Chandrayaan-2 to wait

European Google Lunar X Prize Teams Call For Science Payloads

Russia to Send Manned Mission to Moon by 2030

NASA Contract to Astrobotic Technology Investigates Prospecting for Lunar Resources

TRADE WARS
Uranus auroras glimpsed from Earth

Herschel images extrasolar analogue of the Kuiper Belt

New Horizons on Approach: 22 AU Down, Just 10 to Go

New Horizons Aims to Put Its Stamp on History

TRADE WARS
Three Earthlike planets identified by Cornell astronomers

Some Stars Capture Rogue Planets

ALMA Reveals Workings of Nearby Planetary System

UF-led team uses new observatory to characterize low-mass planets orbiting nearby star

TRADE WARS
ORBITEC and Sierra Nevada Space Systems Begin Testing Dream Chaser Life Support and Thermal Systems

J-2X Engine Ready For Second Test Series

Crash of hypersonic test craft analyzed

The 'Missile Woman' behind Indian test launch

TRADE WARS
China's Lunar Docking

Shenzhou-9 may take female astronaut to space

China to launch 100 satellites during 2011-15

Three for Tiangong

TRADE WARS
Dawn Reveals Secrets of Giant Asteroid Vesta

US firm plans to mine asteroids

Dawn Gets Extra Time to Explore Vesta

NASA Mission Wants Amateur Astronomers to Target Asteroids




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement