China, US companies sign contracts worth around $16.3 billion in Chicago
29 Apr 2009
Chinese and US companies participating in the China-US Trade and Investment Cooperation Forum, which concluded in Chicago yesterday, have signed contracts worth around $16.3 billion.
Thirtytwo trade and investment contracts worth around $10.6 billion were signed on Monday (See: China signs trade deals worth $10.6 billion with US) and 28 trade and investment contracts worth around $5.7 billion were signed yesterday by Chinese and US companies.
"With businesses in both countries under pressure, these contracts come at a critical time and will help create jobs and stronger commercial tie between the United States and China," said Myron Brilliant, the chamber's senior vice president of international affairs, at the Forum's signing ceremony.
These contracts and trade between the two countries will support US economic growth and job creation said the US Chamber of Commerce
The contracts were mainly in the electronic goods, machinery and green energy technology facilitating trade balance between the two countries, said Chinese Commerce Minister Chen Deming's spokeswoman.
Companies like Amway, China Mobile, Lenovo, Cisco, Dell, Emerson, EMC, Freescale Hewlett-Packard and Ford participated at the ceremony and signed contracts.
"We will continue to support Chinese companies to import more from the US, and we will also welcome US companies and trade-promotion agencies to be more active in China," said Chinese Commerce Minister Chen Deming.
These contracts will help China upgrade its technology and value for its products as US. high-tech products are being imported by Chinese companies and used in green energy sector, added the Chinese Commerce Minister Chen Deming's spokeswoman.
Chinese commerce minister Chen Deming said a stronger commercial tie between China and the United States would also hasten global economy recovery.
Chen added that the two countries would work more closely to strengthen economic ties between them and put combined efforts to come out of the current economic crisis.