Press Release

U.S. Exporters Look to China for More Trade

Commerce Deputy Secretary Visits China to Further Bush Administration’s Fair Trade Agenda

WASHINGTON—The U.S. Department of Commerce today released data citing U.S. small and medium-sized enterprises (SME’s) exporting to China increased by 41 percent from 1999 to 2002, growing from 10,086 companies to 14,270.

The number of SME’s nationwide exporting to China increased 354 percent from 1992-2002, making China the fastest-growing export destination in the world for American business. SME’s comprise 87 percent of the 16,434 U.S. exporters selling into China.

“Ninety-five percent of the world’s consumers live outside of the United States, and more U.S. companies are looking to increase their bottom line by exporting and making new sales to China,” said Commerce Deputy Secretary David Sampson. “Exporting helps companies grow and compete by enabling them to diversify their portfolios and weather changes in the domestic economy.”

Sampson departs today for a five-day trip to Beijing, Shenzhen and Guangzhou, China. He will participate in the China-U.S. Summit and meet with high-level Chinese government officials including Vice Minister Ma Xiuhong. He will promote the Bush administration’s fair trade agenda and discuss issues of ongoing concern. While in China, Sampson w ill stress the administration’s commitment to improving economic relations with our trading partner and outline ways that open market forces can drive commerce.

“There is a powerful connection between America’s dynamic economy and our willingness to trade with fair-minded partners,” said Sampson. “Americans have always looked outward with a vision of economic engagement. We are explorers and traders. Americans look abroad and dream of new opportunities. President Bush has instructed us to open new markets and to compete against the best the world has to offer.”

In 2004, U.S. exports to China grew over 22 percent to $34.7 billion. China is the United States’ fifth largest trading partner. Top U.S. exports to China include nuclear manufactures, electric machinery and equipment, medic or surgical instruments, aircrafts, and plastic manufactures.

U.S. companies with a marketing presence in Shanghai or Beijing can expand their distribution networks to additional cities under the recently announced American Trading Centers Initiative. In this program, American companies have exclusive access to a network of 14 regional offices in China, operated by the Commerce Department’s U.S. Commercial Service and the China Council for the Promotion of International Trade. Services include providing the latest in market intelligence, scheduling individual appointments with potential agents and distributors, organizing translation services, hotel rooms, and local transportation.

For more information on business opportunities in China, visit the China Business Information Center at www.export.gov/china.