As the biggest developing country and developed country in the world respectively, the Chinese and U.S. economies have big differences in development levels and structures but they have very strong complementary factors.

Statistics show that the trade volume between the two countries had increased by an average growth rate of 27.4 percent per year from 2001 to 2005 and U.S. exports to China experienced an average year-on-year growth rate of 21.5 percent in the same period.

In 2005, the trade volume between the two countries reached 211.63 billion U.S. dollars, more than 86 times the figure in 1979 when they established diplomatic relations.

U.S. exports to China in 2005 witnessed a growth rate of 118 percent more than 2001, 4.9 times the expansion of U.S. exports to the rest of the world, according to statistics.

China was the ninth largest export market for the U.S. in 2001 and climbed to the fourth place in 2005, becoming the main driver in increasing in U.S. exports.

At present, China has become the third biggest trading partner of the U.S. which in turn is the second biggest partner for China.

At the same time, the U.S. is one of the biggest foreign investors in the Asian country.

To date, U.S. investment projects in China, which involve almost all fields, amounted to nearly 50,000 by the end of 2005 with real-terms investment surpassing 50 billion dollars.

China has become one of the main foreign countries in which U.S. enterprises are able to make a profit. In 2004, sales of U.S.enterprises on the Chinese market exceeded 75 billion dollars.

The economic benefits China has brought to the U.S. are indisputable, said the book"China, Balance Sheet," co-published by the two U.S. think-tanks, the Research Center for Strategy and International Affairs and the International Economic Research Institute.

The rapid expansion of the Chinese market has promoted U.S. exports, it said.

China's export to the U.S. and its investment in U.S. financial markets have helped curb inflation and exchange rate increases in the U.S. and created conditions for the rapid expansion of the U.S. economy and increased employment, it said.

The momentum of rapid development of Sino-U.S. economic and trade relations is based on the joint efforts of the two countries, economists have said.

The two sides have set up several specialized institutions and mechanisms for regular consultations to push forward the development of the economic and trade relations between the two countries.

As trade between the two countries has increased, so has friction to a certain extent. Chinese Vice Premier Wu Yi said during a visit to the U.S. earlier this month that it was natural that some friction would occur because of the rapid development of China-U.S. economic and trade relations.

She called on the two sides to solve their economic and trade disputes with sincerity and in an active manner.

The two sides need the spirit of equality and consultation and should"think more for the other" in resolving their disputes, and should avoid politicizing economic and trade issues, she said.

Complementary economies and reciprocity in economic and trade cooperation are the foundation and driving force for lasting development of China-U.S. economic and trade relations, Wu pointed out.

An equal, mutually-beneficial economic and trade relationship is of great significance in the overall healthy development of China-U.S. relations, she said. Enditem