Cooperation between China and the US is not only in their own national interests, it is also of significance to global economy

Bilateral trade and economic cooperation between China and the United States have developed steadily since the two countries established diplomatic relations 34 years ago.

Trade in goods between China and the US jumped from $2.45 billion in 1979 to $484.7 billion in 2012. Imports from the US were worth $132.9 billion in 2012, an increase of 8.8 percent over 2011, and the US became China's largest export market again in 2012, with China's exports to the US worth $351.8 billion in 2012, up 8.4 percent on the year before.