Chinese and US Minister of Commerce Holding Talks in Beijing

Mr. Bo Xilai said that US had deficit in trade with China currently, for which the US should make an objective and all-round appraisal. US deficit to China formed through market adjustment, was the result of transfer of international industries under the background of economic globalization and indicated the economic complementarity of China and the US in international division. China had surplus in trade with US but on the other hand, the US received benefits: Chinese commodities with high quality and low price were of great benefit to US consumers, development of Sino-US trade also provided many employment opportunities for US service departments. As for Chinese export to the US, a big part attributed to US investment in China and meanwhile, US relative industries enjoyed some Chinese market share. China hoped that Sino-US trade could develop with balance, China became the export market of the US with biggest increase rate and the US should loose the restriction of Chinese hi-tech products export.

Mr. Bo Xilai pointed out that China attached importance to the Joint Committee to be held in the coming days and prepared well for it. China and the US were major economic and trade partners to each other and took objective and fair attitude to solve properly issues through friendly negotiation and consultation based on the principle of mutual benefit to create a favorable environment for steady development of China-US trade and economic cooperation.

Regarding to issues of market access and IPR protection concerned about by the US party, Mr. Bo Xilai said that since the entry into WTO, China earnestly fulfill the commitment, enhance the transparency of trading policies and opening-up of market. China took a series of measures to strengthen IPR protection and had outstanding effects. China strictly stroke against illegal disc production lines to protect brands at consumption market, exhibitions and fairs, set up judicial tribunals for IPR at intermediate people's court to severely punish the infringement and hoped that the US could completely recognize the efforts and progress made by China. IPR infringement was a global issue and existed in both China and the US, the two countries should reinforce the communication and cooperation in striking against infringement.

Gutierrez said that the US thought highly of the 17th Sino-US Joint Committee on Commerce and Trade. The US notified the positive measures taken by China in promotion of bilateral trade and economic relations and hoped to enhance communication and cooperation with China to prepare well for the success of the Joint Committee.

Chinese Vice Minister Ma Xiuhong and US Ambassador to China. Mr. Randt took part in the talks