Source: CCTV.com

05-25-2007 13:31

Special Report:   2nd meeting of SED

China and the US have concluded the two-day economic dialogue which has produced a number of agreements. Passenger flights between the two countries will be more than doubled, and China has agreed to further open it's financial and capital markets.

Officials from both sides agreed to double the daily passenger flights from the United States to China by 2010, starting with a flight which will be added this year. A total of 13 new daily flights are planned between US destinations and Beijing, Shanghai and Guangzhou. The number of daily round-trip flights will jump from the current 10 to 23 within five years. The deal is expected to generate five billion US dollars in additional business for the two countries' airlines.

In a move to further open up its financial and capital markets, China agreed to lift the quota for Qualified Foreign Institutional Investors, from 10 billion US dollars to 30 billion US dollars. China also said it will remove the ban on the entry of new foreign securities firms, resuming licensing securities companies in the second half of 2007 and allow the entry of individual foreign stock investors to the mainland market later this year.

 

Editor:Chen Ge