China urges the U.S. to lift export restrictions

BEIJING (BestGrowthStock) – China urged the United States to lift restrictions on exports to China as early as possible, Commerce Minister Chen Deming said ahead of talks between the two countries in Beijing.

“China has huge market potential in high-tech products, but the United States imposes export restrictions on China. That has caused U.S. enterprises to lose lots of opportunities and hamper trade development between the two countries,” he said.

The United States restrict exports of some products using technologies that can have both civilian and military applications.

Chen’s comments, which came during a meeting with his U.S. counterpart, Gary Locke, were posted on the commerce ministry’s website,

Chen added that China hoped to improve cooperation with the United States in sectors such as clean energy and intellectual property rights.

According to the website posting, Locke responded by saying more reforms were being made to reduce unnecessary restrictions.

China’s Vice Commerce Minister Ma Xiuhong on Thursday also asked the U.S. to reform its control system for exports and increase transparency for investment approval.

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(Reporting by Aileen Wang; Editing by Ken Wills)

China urges the U.S. to lift export restrictions