He Ning, Secretary of the Department of American and Oceanian Affairs in the Ministry of Commerce, said in Beijing on the 23rd that China-US trade reached 270 billion US dollars in the first 11 months of this year.
The annual China-US trade volume is expected to exceed 300 billion US dollars, making China the third largest export destination by the end of this year.
He Ning confirmed this at the 2007 China Forum on Economic Diplomacy at the China Foreign Affairs University. According to him, in recent years China-US trade has become more interdependent; and the bilateral trade volume increased from 2.5 billion US dollars in 1979 to 262.7 billion US dollars in 2006.
As of November 2007, China-US trade has reached an all-time record high, breaking 270 billion US dollars: an increase of 15% compared with the same period last year.
By the end of this year, trade will exceed 300 billion US dollars, making China the third largest exporter to the US. American investment in China has also grown rapidly: by the end of November this year, the US set up more than 54,000 enterprises and made over 56 billion US dollars in investments.
By People's Daily Online
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