China vows to boost imports, help world recovery

China's deputy trade envoy, Chong Quan, rejected complaints that Beijing intentionally boosts its trade surplus by promoting exports while holding down imports. Speaking at a trade forum, Chong repeated promises to boost imports of resources and high-tech equipment and to ease costs for importers but announced no new initiatives.

“This criticism is unfounded,” Chong said. “China, in its own actions, makes its due contribution to the world's economic development.”

Chong spoke as U.S. National Economic Council Director Larry Summers was in Beijing to meet China's top trade official, Vice Premier Wang Qishan. No agenda was announced, but their talks were likely to include U.S. complaints that a weak yuan gives Chinese exporters an unfair price advantage.

China's trade surplus widened in July to an 18-month high of US$28.7 billion as imports weakened. That helped to fuel complaints by some American lawmakers who want Beijing to allow the yuan to rise or face possible trade sanctions.

American lawmakers set aside criticism of China's trade policy while the two governments worked together to end the global crisis. But pressure has resumed as the crisis fades and American leaders face pressure to create jobs.

In June, Beijing ended an 18-month-old link between the yuan and the dollar and said it would allow a more flexible exchange rate, but the Chinese currency has risen by only 0.6 percent since then. The U.S. Commerce Department in August declined to launch an investigation of the currency complaints despite requests by some lawmakers.

American legislators have scheduled two congressional hearings this month on China's currency and possible retaliatory measures.

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