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China signed  contracts with the United States on Thursday afternoon to import  US soybeans and eletro-mechanical equipment, a measure adding  substance to a consensus reached earlier this month.

The consensus, between Chinese Premier Wen Jiabao and US  President George W. Bush, is on strengthening economic and trade  relations between the two countries.

The contracts, totaling 1.59 billion US dollars, were signed at the Chicago Board of Trade (CBOT) by a Chinese enterprise  purchasing mission organized by the China Chamber of Commerce and  its US counterparts.

 Under the soybean contracts, Chinese companies will buy  American soybeans worth 1.4 billion dollars. They will also  purchase 190 million dollars of US machinery and electronic  products.

Chinese Vice Minister of Commerce Liao Xiaoqi, head of the  government economic and trade delegation, attended the signing  ceremony.

The delegation said in a news release that the Chinese  government attaches great importance to economic and trade  cooperation with the United States and is vigorously pushing for  the steady and healthy development of their economic and trade  ties.

The Chinese government encourages enterprises in their efforts  to increase imports from the United States so as to cut back on  the trade deficit, the delegation said.

The development of China-US economic and trade relations had  brought tangible economic benefits to people of both countries.  The relationship, which was mutually beneficial and highlighted a  win-win outcome, would certainly make a positive contribution to  the economic prosperity in their neighboring countries, and global economic growth at large, it said.

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