Prior to economic dialogue procurement mission to reach US

27 Apr '09

2 min read

The commercial investment mission organized by China's Ministry of Commerce will arrive in the US on the 27th of April to begin its procurement mission. Sources have indicated that this mission will sign up more than 30 trade and investment contracts in the US, worth several billions of dollars, before leaving back for home.

The Business Investment Mission will stay for 10 days in the United States to carry out trade and investment promotion activities and during the course of their stay, they will visit Washington, Chicago and San Francisco. This visit will be a warming up prior to the China-US Strategic Economic Dialogue to be held this summer.

Since 2006, China has been routinely sending buying missions to improve the Sino-US trade balance before every high-level strategic dialogue on economic cooperation. The previous year's procurement trips resulted in signing trade contracts worth US $16.2 billion, 32.6 billion and 13.6 billion in 2006, 2007 and 2008 respectively.

Customs data show that in the first two months of this year, China's exports to the United States reached $29.1 billion, down 16.1 percent year-on-year while China's imports from the United State indicated $10.4 billion, down 20.9 percent year-on-year and the cumulative trade surplus touched $18.7 billion, in favour of China.

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