Premier Wen on Sino-US trade imbalance

Premier Wen Jiabao meets both Chinese and foreign reporters after the closing ceremony of the annual session of the National People's Congress in the Great Hall of the People in Beijing on March 14, 2012.

Q: If there is one thing you can do to ease the trade imbalance between China and the US, what steps will you take?

A: If we are to ease the trade imbalance between the two countries and to resolve the difficulties and frictions in business tie between China and the US, we still need to rely on cooperation.

The main content of my package of proposals and suggests is as follows:

First, we need to further enhance two-way trade between China and the US. China is preparing to buy more from the US and the US needs to ease its restrictions on related exports of goods to China.

Second, the two countries should work together to increase mutual investment. Both sides need to create favorable conditions for mutual investment and reach early agreements on investment protection.

Third, we need to enhance cooperation in high-tech fields covering new materials, new energy sources, energy conservation, environment protection and aviation.

Fourth, we need to enhance our cooperation in infrastructural development. At the same time, we should bring it in line with financial cooperation. That means China will make investment in infrastructural development in the US that will contribute to local jobs in US. I believe that will have mutual benefit.