Xi Jinping: Expanding US Exports To China

Xi Jinping, vice president of the state, said in the morning of 17 local time that the most effective way to reverse the imbalance between China and the US is not to restrict China's exports to the US, but to expand exports from the United States to China.

Xi Jinping made the above remarks when he delivered a speech at the opening ceremony of the Sino US economic and trade cooperation forum.

He said he had seen a statistical material reflecting the strict control of high-tech products in the United States, which led to many potential US companies losing their potential market opportunities in China: from 2001 to 2011, China's imports of high-tech products increased from 56 billion US dollars to US $463 billion, with an average annual growth rate of 23.5%.

In the same period, the import of high-tech products from the United States decreased from 16.7% of the total imports of high-tech products in 2001 to 6.3% in 2011.

He said: "if the US exports of high-tech products to China in 2011 could maintain the proportion of 2001, the US exports to China could increase by nearly US $50 billion.

It can be seen that relaxing the export control to China is of great benefit to the United States. "

Regarding China's economy, Xi Jinping said that 2012 is an important year for China to carry out the 12th Five-Year plan.

China's economy will continue to maintain steady and rapid development in accordance with the general keynote of steady progress, and there will never be a so-called "hard landing".

He said that by 2015, the total retail sales of consumer goods in China will reach 32 trillion yuan, or about US $5 trillion, and the domestic market will rank the highest in the world. The scale of imports is expected to reach US $8 trillion and foreign investment will exceed US $500 billion, which will bring enormous business opportunities to all countries in the world.

"We hope that the United States will seize the opportunity to expand the export of civilian high-tech products with competitive advantages to China," Xi Jinping said.