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Monday April 25, 01:22
China urged to open market
(by Olivia Cohen)
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China is forced by the US companies to make its market more open and provide free access to it to foreign firms in an attempt to improve its tense relations with the United States.
Norman Sorensen, chairman of the US Coalition of Service Industries, said the amount of exports allows China to extend it more by importing insurance, telecoms, delivery, thus narrowing the trade gap.
The US deficit from the trade with China hit the record highs last year amounting to $162 billion.
China has already gave some limited access to its market for some banking institutions and security firms. It also plans to widen the range of services to be presented by the overseas companies in China.
China also has an option to urge the US and the EU officials to help it with farm goods trade.
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