rch and field development resources to expand in the Chinese market over the coming years, he said.
Ministry of Commerce spokesman Gao Feng said last month that the t
wo countries’ negotiating teams are hashing out the text of a deal, including an enfo
rcement mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest eco
nomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner.
In the ninth round of trade consultations, negotiators discussed tec
hnology transfers, protection of intellectual property rights, non-tariff measures, the servi
ce sector, agriculture, trade imbalances and enforcement mechanisms.
Trade between China and the US amounted to 815.86 billion yuan ($121.7 billion) i
n the first quarter of the year, an 11 percent year-on-year decline, according to the General Administration of Cus
toms. In March, Sino-US trade climbed 0.1 percent to 291.35 billion yuan, according to the administration.
ntry in the forest sector by the middle of this century in a guideline on promoting the greening of the homeland issued in November. The count
ry also aims to increase its percentage of forest cover from 21.7 percent in 2018 to about 23 percent in 2020, and 26 percent in 2035.
China’s digital trade is expected to lead global trade development, with the economic value of di
gital trade-enabled productivity benefits to the Chinese economy estimated to reach 37 trillion yu
an ($5.5 trillion) by 2030,according to a report on how China can capture digital trade opportunities at home and abroad.
Digital trade has become increasingly important; there are a lot of definitions of digital trade going on, with
the most common one being e-commerce, including monetary transactions and exchanges of goods and services, said re
search project head Konstantin Matthies, noting the report studies digital trade with a much broader approach.
“Digital trade” refers to the production, distribution, marketing, sale or delivery of goods and servi
ces – domestically and abroad – supported by cross-border digital flows. This consists of trade in digi
tally enabled products and services and cross-border data flows that create economic value in the domestic economy, acc
ording to the report jointly released by the Center for China and Globalization as well as the Hinrich Foundation.