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China, US Sign Three Business Agreements

China and the United States have signed three business agreements in Beijing.


One of them is Honeywell International's global supply agreement with the Haier Group to provide Honeywell's environmentally friendly refrigerants and other chemical products to Haier.


The other agreement involves cooperation between General Electric Company and the Guangdong Nan-Dian Power Equipment Co. Ltd.


U.S. Commerce Secretary Donald L. Evans said at the signing ceremony that these partnerships will increase American jobs and contribute to America's economic development. They are an example of the strong commercial bonds being forged between the United States and China.


The US has blamed China's inexpensive products for US workers' loss of jobs.


It's also believed that the U.S. Commerce Secretary came to persuade China to have a market-driven exchange rate for the yuan, which is at present pegged to the dollar.


At the beginning of his three-day visit to China, he visited northeast China's Harbin city.


Evans says he is willing to introduce some hi-tech enterprises in the US to Heilongjiang Province to help revitalize the old industrial base. 


(CRI.com June 23, 2004)


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