U.S. Commerce Secretary Don Evans Witnesses Signing of Business Agreements at the “Sino-U.S. Economic Cooperative Projects Signing Ceremony”

Commerce Secretary Don Evans today witnessed the signing of a number of U.S.-China business agreements in New York City.

“These signings are a tangible example of the vital trade relationship between the United States and China,” Evans said. “We believe that these projects in petrochemicals, telecommunications, energy, and other sectors will help enhance U.S.-China trade relations and the well-being of people in both countries.”

Joining Secretary Evans in the ceremony were Chinese State Development Planning Commission Minister Zeng Peiyan, Consul General Huang Hui Kang, and U.S. Department of Energy Under Secretary Robert Card.

Today’s signings included the following U.S. business agreements:

ExxonMobil China Petroleum & Petrochemical Company Limited, an affiliate of Exxon Mobil Corporation (Texas), signed a Framework Agreement with China Petroleum and Chemical Corporation (Sinopec) for refining, petrochemical and marketing joint venture projects in Fujian and Guangdong Provinces.

Ericsson Wireless Communications (Calif.), Lucent Technologies (N.J.), Motorola Inc. (IL), and Nortel Networks (Washington, D.C.) each signed contracts with China United Telecommunications Corporation (China Unicom) for the supply of code division multiple access (CDMA) 2000 1x equipment, a technology pioneered in the United States.

Anheuser-Busch (MO) signed a strategic investment agreement with Tsingtao Brewery Group Limited that will serve to increase Anheuser-Busch’s international operations.

Axens North America, Inc. (NJ) signed an engineering services contract with Shenhua Group Corporation, Ltd. for the basic engineering design and technical services for Shenhua Group’s coal liquefaction project in Inner Mongolia.

Moletec Power Systems, Inc. (Fla.) signed a document with Shanghai Huayi (Group) Company inaugurating an investment by Chinese enterprise Moletec. Moletec manufactures rechargeable batteries for the power tool market, emergency lighting, and cell phones. This investment will preserve the viability of Moletec and create and retain jobs in the United States.