(Yicai Global) Nov. 14 -- During US President Donald Trump’s recent visit to China, companies from the two nations signed 34 deals totaling an impressive USD253.5 billion at a signing ceremony spread across two days, but the commercial value of the agreements signed during his stay is far more significant, Yu Jianhua, China’s vice minister of commerce, said in a press briefing in Beijing.
Both China and the US attach great importance to the authenticity and reliability of commercial agreements and adopt strict standards when initially selecting projects, state-run China News Service quoted Yu as saying.
“On this point, the US has reached a consensus with China,” he added, saying the US Department of Commerce is responsible for examining projects and that the White House has formed a specific cross-departmental system to further evaluate a number of projects.
China’s Ministry of Commerce will work together with relevant departments and local governments to ensure compliance in all of the deals, Yu said.
On the eve of Trump’s visit, officials from both nations’ commerce departments evaluated an array of agreements and settled on 34 to be signed during the US President’s state trip.
“Companies from both sides signed many deals on their own during Trump’s visit,” Yu said, “it wasn’t just those at the ceremony. With this in mind, the value of the deals signed during the two-day stint will be much greater than USD253.5 billion.”