China hopes the United States will take positive steps to further bilateral trade, and that the two sides make joint efforts to create a better environment for exchanges.

"China's entry into the World Trade Organization (WTO) will bring the two nations a bright future for bilateral trade and economic co-operation,'' Vice-Premier Qian Qichen said at a luncheon meeting organized by the US Chamber of Commerce in New York on Monday.

Healthy Sino-US trade and economic ties conform to the basic interests of both nations and also benefits world peace and development, said Qian.

He said that there is still a huge potential to develop mutually-beneficial economic ties and to promote stable economic development.

Total bilateral trade volume reached US$74.5 billion in 2000, an increase of 21.2 per cent on 1999, according to Chinese customs statistics.

As China's second biggest trading partner, the United States has more than 30,000 investment projects in China.

Meanwhile, China has also become the fourth biggest trade partner for the United States.

Commenting on China's entry into the WTO, Qian told the assembled chief executives and presidents from large international firms at the luncheon that China is a country with a strong sense of responsibility.

He said the Chinese Government is always serious about implementing all signed international agreements.

China's unprecedented economic boom and further opening-up will provide tremendous opportunities for American businessmen to expand operations in the country, said Qian.

Attending the luncheon were a "Who's Who'' of US commerce, including presidents of American Express, Amway Corporation and AOL/Time Warner.

These entrepreneurs believe trade will continue to be an important champion of strong US-China relations.

"It is extremely important that the relations between the two countries be placed in a very positive framework,'' Sy Sternberg, chairman, president and chief executive officer of New York Life Insurance Company said.

He is looking forward to forging strong business links with China.

Commenting on the annual debate in the US Congress over extending normal US-China trade for another year, Sternberg said he expected that the business community would again play a supportive role for the passage of the Normal Trade Relations bill in June.

"I don't see that is a problem,'' he said.

"We're eagerly waiting for China's entry into the WTO,'' Sternberg said.

He said he hoped the negotiations between China and other members would successfully conclude this month.

"China is welcome to join the WTO and this is very important for China and for the world,'' he said.

(China Daily 03/21/2001)