According to Xinhua, it is predicted that China will overcome Japan to become the second biggest exporting market of the US at the end of this year or the turn of next year.

Due to Deputy Minister of Trade of China, China has become the product consumer of the US with the average growth of 24.4 % for 5 years, three times as much as the next market named in the exporting market list of the US.

China General Administration of Customs says that, bilateral trade between China and the US in 2006 reached USD 262.7 billions, increased over 100 times compared to 1979. China bought 622 Boeing planes, accounted for 60% the total amount of civil aircraft of this country. It also has been the largest exporting soybean and cotton market of the US.

Last year, more than 8 million tons of soybean and 1.71 billon tons of cotton of the US were imported to China, made up respectively 38% and 46% exporting turn over of the US for two kinds of products.

At the end of last June, more than 50,000 US enterprises and investor have been doing business in China with the total capital of USD 55.4 billions.