China, US firms sign deal worth $3.4 bn

Beijing, June 23 (IANS) Chinese and US enterprises have signed investment contracts worth $3.4 billion during a business forum.

The forum was held in eastern China's Jiangsu province.

Eighty-five companies from 21 Chinese cities and 20 US cities took part in the second US-China Cities Forum on Economic Cooperation and Investment from Friday to Saturday.

Finance Minister Xie Xuren said that China and the US share different resource advantages, and strongly complement each other in economic development.

The two economies should expand cooperation in more sectors, especially in energy and environmental protection, biomedicine and infrastructure, Xinhua quoted Xie as saying.

The forum was first held in Seattle April 19-20 last year.

China and the US's bilateral trade currently stands at $446.6 billion.