China's Shopping Spree To Ease Trade Tension
China kicked off its latest “buying spree” in the United States on Wednesday with a commitment to purchase $4.3 billion in U.S. technology and equipment, according to Thursday reports from the country’s state press. China has at times come to the United States to demonstrate the country’s eagerness to import more U.S. goods and services.
The purchases are generally made in the computer software, semiconductor and telecommunications industries from companies such as Microsoft, Oracle, Cisco and Hewlett-Packard. According to Chinese statistics gathered by Xinhua News Agency, China's trade surplus with the United States increased to a record $144 billion last year.
The news service said China has become an increasingly hot market for the makers of high-tech products. Meanwhile, Chinese Vice Premier Wu Yi and her delegation are reportedly planning to visit the United States later this month to discuss trade and economic issues with U.S. President Bush. -- Winter Casey
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