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US Treasury Secretary Henry Paulson discussed China-US trade relationship with 13 leading Chinese entrepreneurs in eastern China on Tuesday.

 

In Hangzhou, capital of Zhejiang Province, Paulson listened to the entrepreneurs discuss their businesses and the challenges they face.

 

The entrepreneurs included Zong Qinghou, board chairman of the Wahaha corporation, and Nan Cunhui, board chairman of the CHINT, China's largest manufacturer of low-voltage electrical products.

 

As one of the most developed regions of China, Zhejiang has a well-developed market economy and boasts the highest proportion of private business in the country, at more than 70 percent of its total economic volume.

 

At an economic and trade fair held between Zhejiang and the US in New York in May, companies from the two sides signed deals on 63 projects, with a total investment of US$2.49 billion.

 

Paulson, who arrived in Hangzhou on the first leg of his four-day China tour on Tuesday afternoon, also met with provincial party chief Xi Jinping in the state guest house where China and the US held negotiations in 1972 on the establishment of diplomatic relations. The guest house also witnessed the signing of the Sino-US Shanghai Joint Communiqué.

 

This is Paulson's first visit to China since he took office in July. He will arrive in Beijing on Wednesday and hold meetings with senior Chinese leaders.

 

(Xinhua News Agency September 20, 2006)