China lifts ban on US beef imports

China on Thursday lifted a decade-plus ban on some beef products from the United States, according to agriculture and quarantine regulators.

The ban on bone-in and boneless beef from cattle under 30 months old from the United States was removed effective immediately, said a statement released by the Ministry of Agriculture and General Administration of Quality Supervision, Inspection and Quarantine.

Authorities will formulate rules on traceability and quarantine for the beef products, said the statement.

China halted beef imports from the United States in 2003 to prevent the spread of mad cow disease. But due to surging demand, some Chinese consumers started to purchase smuggled beef via online stores.

Chinese Premier Li Keqiang signaled the lifting of the ban Tuesday when speaking at a welcoming dinner party organized by the Economic Club of New York.

"The United States also has very good beef. Why should we deny Chinese customers more choices?" he said.

The two countries should open wider to each other, both in trade and investment, Li said.

China's central bank announced on Wednesday it has authorized Bank of China's New York branch to provide clearing services for the Chinese yuan, the first time China has set up a clearing bank in the United States.

The world's top two economies are in the middle of talks on a bilateral investment treaty, which is expected to further deepen economic ties between the two.

Source : XINHUA