The United States and China signed an agreement Monday to allow U.S.-registered shipping companies to service their own vessels in Chinese ports and to eliminate restrictions on branch offices in China.

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The agreement was signed by Transportation Secretary Norman Mineta and Chinese Minister of Communications, Zhang Chunxian.

Mineta said the shipping agreement allows U.S. companies similar privileges to those that Chinese companies enjoy in the United States.

"It opens significant new business opportunities for U.S. companies and their partners who do business in China," Mineta said.

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