US to relax tech export bans to China

Summary:The United States pledges to "actively" carry out a plan to lift bans on high-tech exports to China, which will cover civil aviation, information technology, and oil and gas exploration for civilian use.

The United States will actively carry out a plan to lift bans on high-tech exports to China, which will help ease the trade deficit between both countries.

According to China Daily, Wang Chao, Chinese vice-minister of commerce, said the U.S. agreed to promote high-tech exports to China, especially in civil aviation, information technology and oil and gas exploration for civilian use. The deal was reached during annual bilateral trade talks in Beijing on Friday.

"It is beneficial for both countries to reach consensus on the issue. Technological products from the U.S. accounted for about 18 percent of China's total technology imports nearly a decade ago, but now this stands at 7 percent," Wang said, in the report.

In 2011, both sides signed a plan for the U.S. to ease export controls covering high tech goods, but there has been little progress since in boosting trade in the sector, noted China Daily.

Topics: Tech Industry, China, Government : US

About

Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.