Economy

China hopes for rapid US economic recovery: commerce minister

(Xinhua)
Updated: 2010-12-16 14:32

WASHINGTON - China hopes that the US economy could recover as soon as possible because it is important to the whole world, Chinese Commerce Minister Chen Deming said Wednesday.

Chen was speaking at a press conference after the China-US Joint Commission on Commerce and Trade held a meeting Wednesday.

Related readings:  China rebukes US export curbs  China says hopes US economy to recover ASAP  Opting for China-US trade expansion  China to appeal WTO ruling on US tire tariff

The US economy is experiencing low growth and high unemployment, while China's economy also faces many difficulties, he said, adding that there are a lot of uncertainties in the global economy.

A rapidly growing US economy will benefit the world economy, he noted.

According to Chinese Vice Premier Wang Qishan, who co-chaired Wednesday's meeting with US Commerce Secretary Gary Locke and Trade Representative Ron Kirk, trade between China and the United States has been improving dramatically this year.

In the first 10 months of this year, the bilateral trade volume increased 30 percent year-on-year to $346.9 billion.

The joint commission has since 1983 served as a platform for China and the United States to promote trade and address issues of mutual concern.

Seven bilateral agreements were signed at this year's joint commission meeting, including those on agriculture, energy and investment.