Beijing calls on US to ease trade rules

Vice-Premier Wang Yang urged the United States on Tuesday to loosen its "outdated" restrictions on high-tech exports to China so it can tap the vast Chinese market and reduce the bilateral trade imbalance.

Wang, who is in Washington for the first round of China-US Comprehensive Economic Dialogue, said that as China upgrades its industries, there is a huge market for US exports of advanced technologies, key equipment and critical parts to China.

"Unfortunately, American businesses have not had their fair share of the cake due to outdated US regulations on export control," he told a luncheon attended by US Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and hundreds of Chinese and US business leaders.