U.S. urges China to open more markets

U.S. urges China to open more markets    Senior U.S. trade officials on Tuesday urged China to open more markets for American goods and services and make progress on other priority trade issues at the annual Mid-Year Review Meeting for the U.S.-China Joint Commission on Commerce and Trade (JCCT).
   The two governments also took stock of their trade and investment relationship, and identified key policy concerns in preparation for the 2011 JCCT plenary meeting that China will host later this year.
   Undersecretary of Commerce for International Trade Francisco S'nchez and Assistant U.S. Trade Representative Claire Reade co-chaired the meeting with Chinese Vice Minister of Commerce Wang Chao.
   'We are focused on creating a balanced and healthy U.S.-China trade relationship, and we believe China should take steps to open more markets to American goods and services,' S'nchez said. 'We face challenges that need to be addressed in our commercial relationship, but recognize the important synergies that exist between our National Export Initiative and China's 12th Five Year Plan to develop and modernize its economy.'
   “The JCCT midyear review is a key opportunity to focus on full implementation of last year’s JCCT commitments and to energize the work towards a productive 2011 JCCT plenary,” Reade said.
   While in Beijing, S'nchez and Reade also participated in a roundtable with American companies focused on opportunities for U.S. technologies in the development of China's smart grid.
   In 2010, China was the United States' third-largest export market and remains a critical destination for U.S. manufactured goods and services.
   JCCT, established in 1983, is the main forum for addressing bilateral trade matters and promoting commercial opportunities between the United States and China.