Chinese Premier Wen Jiabao (R) talks with Chief Executive Officer of Royal Dutch Shell Peter Voser (L) during a meeting with entrepreneurs from various countries at the China Development Forum in the Great Hall of the People, in Beijing, March 21, 2011. [Photo/Agencies]

BEIJING - Premier Wen Jiabao on Monday urged the United States to ease high-tech export restrictions to China, which will reduce its trade deficit with China.

He said China is not only a major exporter to the world, but also an important importer.

"If the United States opens its market to China, we can import a tremendous amount of US-made products," Wen told a group of foreign company executives.

The audience was composed of overseas attendees to the 12th China Development Forum, an annual platform for business and academic leaders to interact with China's top decision-makers and economic policymakers.

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The premier noted that it is important to solve the imbalance in Sino-US trade, with China having a trade surplus with the US.

He said Chinese enterprises also want to invest in the US, hoping the country will further open its market to Chinese enterprises.

"I would like to take a cooperative approach to eliminate the contradiction between us," Wen said.

Wen reiterated that China will strengthen its policy of attracting foreign investment, saying the country's development requires closer interaction with the rest of the world.

"China will only strengthen rather than weaken its measures of attracting foreign investment, especially in advanced technology and management experiences," he said.

"We hope foreign enterprises will not only set up factories in China but also build their research centers and regional headquarters in the country," he said.

Wen said he fully understood the concerns of some foreign investors, vowing to guarantee a fair playing field for foreign companies, including giving them the same treatment as local companies and effective lawful protection of intellectual property rights.

During the two-hour meeting with dozens of businessmen from renowned international companies and scholars, Wen also expressed his optimism about US, European and world economic prospects.

The US has met setbacks in the financial crisis, but it still has strong technological strength thanks to rich human resources, Wen said.

"A powerful, balanced and sustainable recovery of the US will be expected soon with a stable and appropriate policy," he said.

China posted a trade deficit of $7.3 billion, the biggest amount for seven years, in February.

Its exports grew by 2.4 percent year-on-year to $96.74 billion, while imports rose by 19.4 percent to $104.4 billion.

The growth in exports slowed sharply from the 38 percent year-on-year rise in January, leading to China's first trade deficit since March last year and the biggest since February 2004.

The country's inbound foreign direct investment accelerated in February by 32.2 percent year-on-year to $7.8 billion, according to the Ministry of Commerce.

China Daily