US, China to sit down for annual talks

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.