CHINA DRAWS UP LIST OF CON­CES­SIONS

Re­port can help de­liver ‘win-win’ trade ties with United States

New Straits Times - - Business -

BEI­JING to a 117-page doc­u­ment re­leased by the Min­istry of Com­merce yes­ter­day.

The re­port also recog­nises the Trump ad­min­is­tra­tion’s griev­ances with China and glob­al­i­sa­tion, urg­ing “bal­anced de­vel­op­ment” of ties from now on.

A deal ear­lier this month to pro­mote Chi­nese ac­cess for US nat­u­ral gas, fi­nan­cial ser­vices and beef was hailed as an “early har­vest” in a 100-day re­view of the bi­lat­eral trade re­la­tion­ship — char­ac­terised by a 2016 US deficit of US$347 bil­lion (RM1.49 tril­lion) — that’s due to wrap up in July.

“China would like to fur­ther in­crease im­ports of agri­cul­tural prod­ucts such as soy­abeans and cot­ton from the US and speed up ne­go­ti­a­tions with the US on terms re­gard­ing trace­abil­ity and in­spec­tion and quar­an­tine for US beef to en­ter China, which will ben­e­fit six mil­lion Amer­i­can farm­ers,” said the re­port.

“China will in­crease im­ports of ad­vanced man­u­fac­tured goods such as air­craft, in­te­grated cir­cuits and ma­chine tools.”

“The re­port is very thor­ough and I think the main pur­pose is to en­hance com­mu­ni­ca­tion and re­duce con­fronta­tion,” said Tu Xin­quan, dean of the China In­sti­tute for WTO Stud­ies at the Uni­ver­sity of In­ter­na­tional Busi­ness and Eco­nom­ics, here. Bloomberg

BLOOMBERG PIC

China is keen to in­crease its im­ports of agri­cul­tural prod­ucts and speed up talks on terms re­gard­ing trace­abil­ity and in­spec­tion and quar­an­tine for US beef to en­ter the Asian coun­try.

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