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Sino-US economic cooperation serves interests of two countries

(Xinhua)
Updated: 2006-04-08 14:21

Visiting Chinese Vice Premier Wu Yi said in Memphis Friday that developing sound and stable Sino-US economic and trade relations was in the interests of both countries.

Trade between China and the United States was mutually beneficial, Wu noted while meeting Tennessee Governor Phil Bredesen in Memphis, the second largest city in the state of Tennessee.

She said that China was the third biggest export market for Tennessee and bilateral trade has grown rapidly. In 2005, China purchased 1.4 billion US dollars of products from Tennessee including grain, cotton, chemical products and electronic parts.

China's market was open, the vice premier said, adding that China welcomed the export of more US products to China and encouraged more  Tennessee enterprises to invest there.

Bredesen said the economic and trade cooperation between Tennessee and China was very close. He expressed his hope that the friendship between the people of Tennessee and Chinese people would be further enhanced through strengthening bilateral economic and trade cooperation.

On Friday, Wu also visited the headquarters of the US FedEx Corporation in Memphis accompanied by its Chief Executive Officer Fred Smith.

Memphis is the third stop of Wu's visit to the United States. She arrived here Friday afternoon after having visited Hawaii and Los Angeles, California.