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China sends 3rd delegation on US shopping spree ( 2004-01-12 16:34) (chinadaily.com.cn)
Ministry of Information officials confirmed that China has sent a third trade delegation to the United States to purchase US$2 billion in information technology (IT) products, according to the local media. The Beijing Morning Post said the delegation, headed by senior officials, consisted of executives from domestic big names, including China Telecom, the country's biggest telecom carrier; the top mobile firm, China Mobile; the second-largest mobile carrier, China Unicom and leading PC makers, Founder and Legend. During the three-day trip the delegation is expected to sign contracts worth more than US$2 billion with Motorola Inc, Intel Corp and Cisco. Their schedule also includes a seminar with US counterparts to discuss the Sino-US cooperation in the IT industry. The move is China's most recent effort to ease the widening trade deficit with the US. China sent two purchase delegations to the US in the last two months. Contracts totaling US$1.59 billion were signed on December 18, 2003, allowing China to import US soybeans and electro-mechanical equipment from the Chicago Board of Trade (CBOT). China signed two contracts on November 12, 2003 with Boeing and GE to
purchase 30 Boeing-737 planes and aircraft engines. The two contracts are valued
at about US$4.7 billion.
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