China-US trade and investment links poised for more growth, cooperation
By Li Jiabao, China Daily/Asia News Network
January 3, 2014, 12:02 am TWN
BEIJING -- As the Chinese and U.S. economies are increasingly intertwined, some remarkable highlights have emerged in economic ties between the world's top two economies, experts said.
China's imports from the U.S. outpaced its exports to the country and Chinese investment growth in the U.S. outstripped U.S. investment growth in China.
The renminbi is becoming more internationalized and not forced to appreciate, said Zhou Shijian, a senior researcher at the Center for U.S.-China Relations at Tsinghua University.
Jia Xiudong, a researcher on international affairs at the China Institute of International Studies, said China's key areas for economic reform will grow into new opportunities in China-U.S. economic cooperation. He urged closer collaboration in environmental protection, clean energy, finance and urbanization.
At November's Third Plenum, China pledged to reduce the government's role in the economy, free up interest rates and let markets play a decisive role.
In 2012, the U.S. was China's second-largest trade partner and largest export market. Bilateral trade rose 8.5 percent year-on-year to US$484.7 billion, about 12.5 percent of China's overall trade, according to the General Administration of Customs.
China's exports expanded 8.4 percent to US$351.8 billion and its imports grew 8.8 percent to US$132.9 billion.
The first 11 months of this year saw China-U.S. trade increase 7.6 percent to US$472.1 billion. Chinese exports rose 4.9 percent to US$335.1 billion and imports were up 14.9 percent to US$137 billion, according to figures from the customs agency.