Geithner recognizes China's efforts to provide level playing field for US firms

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U.S. Treasury Secretary Timothy Geithner Tuesday welcomed China's efforts to provide a more level playing field for U.S. firms.

"We welcome the progress we achieved to provide a more level playing field for U.S. firms in China," Geithner told reporters after the conclusion of the China-U.S. Strategic and Economic Dialogue Tuesday in Beijing.

Geithner said China had taken a series of steps to modify its policies to promote innovation and technological advancement.

He said China had revised certain aspects of its product accreditation system, such as the requirement that products be patented or trademarked in China.

He praised China's commitment to abiding by the principles of non-discrimination, market competition, open trade, intellectual property protection and leaving the terms of technology transfer and production processes to be worked out between enterprises.

"The relationship between our two countries is strong and beneficial for both sides," Geithner said, adding that U.S. exports to China were growing much more rapidly than exports to the rest of the world.

Compared to the first quarter of 2009, U.S. exports to China in the January-March period of this year went up by almost 50 percent while exports to the rest of the world went up by 20 percent, he said.

About 50 representatives from more than 40 departments of both countries participated in the two-day dialogue, the second since its inauguration in April last year.

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