US, China to sit down for an­nual talks

Weekend Argus (Saturday Edition) - - BUSINESS -

BEI­JING: Se­nior U.S. and Chi­nese of­fi­cials will hold an­nual trade talks in Bei­jing next week, China’s for­eign min­istry said yes­ter­day, as the world's two largest economies try to iron out an ar­ray of long-held ten­sions.

Chi­nese vice pre­mier Wang Yang will host US sec­re­tary of com­merce Penny Pritzker and Trade Rep­re­sen­ta­tive Michael Fro­man for the Joint Com­mis­sion on Com­merce and Trade on Thurs­day and Fri­day, min­istry spokesman Hong Lei said.

US politi­cians are ea­ger to at­tract Chi­nese in­vest­ment as a source of new jobs and eco­nomic growth, though high­pro­file Chi­nese projects have been scrapped af­ter run­ning into na­tional se­cu­rity con­cerns. The US recorded a $315 bil­lion trade deficit with China last year.

The JCCT is a fo­rum launched in 1983 for the two coun­tries to ad­dress trade and in­vest­ment is­sues. – Reuters

PIC­TURE: REUTERS

SHORT­CUT: A man jumps over turn­stiles with­out pay­ing to protest against a fare hike, at Pino Suarez sub­way sta­tion in Mex­ico City this week.

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