U.S. firms win China business

More than 30 U.S. companies signed deals with the Chinese government last week prior to bilateral trade talks.

Among the companies that struck business agreements are Ford Motor Co., Chrysler, General Motors, Motorola, Oracle, IBM, Texas Instruments and Analog Devices.

These partnerships will stimulate American jobs and contribute to our country's economic growth, said U.S. Chamber of Commerce President Tom Donohue, who presided over the signing ceremony. Signing these contracts is an example of the strong commercial bonds being forged between the United States and China. The deals are largely export-oriented and could help blunt criticism of the trade imbalance between the United States and China.

Ford announced that its export agreement is worth more than $800 million in vehicles and parts. Starting in 2009, the automaker will build 30,000 vehicles in North America and ship them to China. Ford will also begin this year supplying transmissions and other parts to its passenger car joint venture in China -- Changan Ford Mazda Automobile Co. Ltd.

Sales of Ford cars and commercial vehicles increased 47 percent, or nearly 91,000 vehicles, in the first quarter compared to the same year-ago period.

GM said it would export $1 billion worth of vehicles, component kits, machinery and equipment to one of its Chinese partners, Shanghai General Motors, through 2010, according to the Associated Press.

The U.S.-China Strategic Economic Council met for the fourth time in Annapolis, Md. Top officials from both sides, including Chinese Vice Premier Wang Qishan, attended. 

Source: American Shipper