Chinese President Comes to Washington

Washington DC April 20, 2006; The AIADA newsletter reported that in his visit with President Bush at the White House yesterday, Chinese President Hu Jintao vowed to take other steps in moderating the U.S. trade deficit with China and improve trade ties between the two countries, reports CongressDaily.

Hu also said he would "take positive steps in such areas as expanding market access, increasing imports, and strengthening the protection of intellectual property rights, and [to] further expand China-U.S. economic cooperation and trade." Comments come amid lawmakers' efforts to reduce exports from China due to their unwillingness to allow a free flow of the yuan currency. "We have already launched the reform on the RMB -- Chinese currency -- exchange rate regime, which has paid off initially," Hu said. "And in the future, we will continue to make efforts to improve the RMB exchange rate regime."