China warns US against anti-dumping duties

China has warned the United States against slapping anti-dumping duties on its products as it could hurt American interests.

Consumers in US have benefited from the Sino-US trade as they have saved more than $600 billion by buying Made in China products in the last decade, Chinese Vice Commerce Minister Gao Hucheng said.

Research by the US-China Business Council shows that the bilateral trade co-operation is expected to add $1,000 to the disposable income of each US family by 2010.

Gao's comments came as the US has launched a number of anti-dumping investigations against Chinese products and banned other items citing health hazards affecting Chinese exporters.

Gao also pointed out that American companies in China earned about $80 billion in sales from the domestic market last year with combined profit climbing to $10 billion.

By the end of 2006, the US corporate sector has built 50,000 firms on the Chinese mainland with actual investment exceeding $54 billion.

Development of the Sino-US trade is beneficial to both sides, and American companies have earned a fair return from investment in China, Gao said.

According to a survey by the American Chamber of Commerce in China (AmCham-China), 73% of US-funded companies believe they earn profits, 60% of them saw profits increasing, and 37% say the profits in China are higher than their average global profits.