China and the US signed 14 agreements and memoranda to continue collaboration

China has been the largest export nation in the world. Meanwhile, it is also quickly becoming one of the major import nations, especially from the United States. To date, China has exported 21.7 billion USD of products to the US and imported 6.525 billion USD of products from the US.

The 18^th Joint Commission on Commerce and Trade was held in Beijing, and 14 agreements and memoranda were signed between China and the US. The major topics cover product safety, energy and environmental protection.

Wu Yi, China’s Vice Premier expressed her concern on the series of actions taken by the US against China at the World Trade Organization (WTO). Since the wave of product recalls, the Chinese government has launched a national campaign with a special leading team to raise awareness of product quality. Wu stated that “China is a responsible developing nation, not only in terms of the protection of intellectual property rights, but also improving product quality and balancing foreign trade. Our attitudes are clear-cut and our actions are resolute.”

The third China-US Strategic Economic Dialogue will be held in China from December 12^th - 13^th to develop further trade strategy. The topics will include the challenges of globalization, trade integration, balanced economic development, the economic impact of energy choice, economic growth and sustainability and bilateral investment.