China urges U.S. to loosen tech exports limits

Updated 2018-04-04 20:44:00 Xinhua

China called on the United States to loosen its grip on exports of high-tech products in a bid to narrow the trade gap between the two countries.

"The United States boasts many advantageous industries but is self-restricted in terms of exports to China. Fewer exports resulted in the big trade deficit," Vice Minister of Commerce Wang Shouwen told a press briefing Wednesday.

Wang urged joint efforts to achieve more balanced trade. "It is unacceptable to ask China alone to cut the deficit by 100 billion U.S. dollars as the trade gap is determined by market forces and the overall economic policies and structure of the United States."

China hopes the United States can actively respond to China's efforts to expand imports, Wang said, inviting American businesses to attend the first China International Import Expo in November and show their products and services to Chinese consumers.

Customs data showed the country's surplus with the United States stood at 1.87 trillion yuan (about 300 billion U.S. dollars) last year.

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