CHINA

Strategy Developed to Counter Trade Pact: China will step up activities in North America and Mexico to minimize effects of the North American Free Trade Agreement on its business, according to Wang Zhiquan, an official of the Ministry of Foreign Economic Relations and Trade. Wang said the agreement’s lower tariffs could boost Mexico’s exports of low-cost goods to the United States and Canada at the expense of Chinese exports. China sold $19 billion in goods to the United States last year, a quarter of its exports. Wang said China will increase export credits that allow U.S. companies to buy Chinese machinery and electronics, set up trade distribution centers and encourage Chinese enterprises to establish joint ventures in the United States, Canada and Mexico.