Economy

Export credit to be brought into S&ED

(China.org.cn)
Updated: 2011-05-11 15:14

The US is prepared to bring China's export credit policies into the third round of the US-China Strategic and Economic Dialogue (S&ED) held from May 9 to 10. It will also give attention to China's preferential export credit for State-owned companies.

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The US has complained that the preferential export credits give Chinese firms an advantage when competing for business in global markets, intensifying trade frictions between the two countries.

The export credit policies apply to those products and industries that China is encouraging, and export credit is not only given to State-owned enterprises, He Weiwen, an economics expert from the China Association of International Trade, told China Business News.

The US and China are discussing the internationalization of official export credit, David Loevinger, special representative for the S&ED, said at a briefing before the third round began. Not only the US but also the EU and Japan hope that China will join an export credit agreement, said a senior researcher from the US Council on Foreign Affairs.