China calls on US to relax export controls on high-tech products

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After the conclusion of the JCCT, Chinese Commerce Minister Chen Deming called on the U.S. to relax export controls on high-tech products as such a move would benefit both sides.

Chen Deming says six agreements were signed at the meeting to boost economic and trade cooperation between China and the U.S. With the impact of the global financial crisis still hanging over the U.S., China's expanding trade is ever important to the global economic recovery.

Chen Deming, Chinese Commerce Minister said 'While expanding import, we're also hoping that countries with trade deficits could reduce their export controls. If the United States could offer substantial trade facilitation to China and largely increase its exports to China, it would help to lower the high unemployment rate in the U.S.'

The two countries agreed to explore the possibility of establishing a bilateral cooperation framework on Intellectual Property Rights. Chen Deming reiterated that encouraging innovation is a way to strengthen domestic companies.

Chen Deming said 'Some people mix up IPR protection and independent innovation with government procurement. Actually they are separate issues.'

On the issue of rare earth, Chen pointed out that China's holdings of the minerals has fallen from 43 percent to 31 percent in the last 15 years. But it's still responsible for more than 90 percent of the world's rare earth supply.

Editor:Xiong Qu |Source: CNTV.CN