China, US firms sign over $10b deals

Chinese and US firms signed 32 trade and investment contracts on Monday worth some $10.6 billion, which the US Chamber of Commerce said will support US economic growth and job creation.

"With businesses in both countries struggling, these deals come at a critical time and will help create jobs and stronger commercial bonds between the United States and China," said Myron Brilliant, the chamber's senior vice president of international affairs, who presided over the signing ceremony.

Companies like China Mobile, Lenovo, Amway, Cisco, Dell, Emerson, EMC, Ford, Freescale and Hewlett-Packard signed deals at the ceremony.

"The Chinese government does not pursue a trade surplus with the US," visiting Chinese Commerce Minister Chen Deming wrote in an article published on The Wall Street Journal on Monday.

"We will continue to encourage Chinese companies to import more from the US, and we will also welcome US companies and trade-promotion agencies to be more active in China," said Chen.

Prior to the signing ceremony, the US Chamber of Commerce and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products hosted a forum, at which senior American and Chinese business executives spoke about the importance of US-China cooperation in addressing shared economic, geostrategic, and environmental challenges.

Source: China Daily

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