Thursday, March 22, 2012

Beijing welcomes US move on exports

Beijing has welcomed Washington's decision to allow some high-tech items from the US to be exported into China.
"We welcome this move, as mutual benefit is the essence of Sino-US economic and trade relations. We hope to strengthen mutual investment for a sustainable, stable and healthy development of bilateral trade links," Foreign Ministry spokesman Hong Lei said at a regular news briefing on Wednesday.
Forty-six of the 141 high-tech items requested by China will be granted approval to enter the Chinese market, US Ambassador to China Gary Locke said on Monday during a function to commemorate the 40th anniversary of the Shanghai Communique.
"As a result of our work together, the United States has indicated that 46 of these technologies can be readily exported to China, and some may not need a license at all," Locke said.
The US government is in the midst of a major reform and simplification process that will enable more high-tech goods to be exported to China, he said.

 Soon to be followed by lower priced and made Chinese knock-offs and lawsuits by American companies.

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