China firms welcome to U.S. VEU plan

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    BEIJING, Dec. 13 -- The United States welcomes Chinese companies to apply for the Validated End-User program which simplifies the licensing process for exports of certain sensitive products, the US Under Secretary of Commerce for Industry and Security Mario Mancuso said yesterday in Shanghai.
    The VEU program, set up in June this year, exempted the individual licensing demand for trusted traders of US export-controlled items for civilian purposes.
    "The VEU program aims to liberalize US export controls. We look forward to expanding its subsidiaries and Chinese companies are welcomed to apply for the program," said Mancuso, who was in China to attend the Sino-US Joint Commission on Commerce and Trade that concluded on Tuesday in Beijing.
    Among total exports from the US, about 1.3 percent of sensitive and high-tech products require a license. By October 19, five companies had obtained VEU certification, none of which were Chinese.
    "VEU will help to reduce time, expense and uncertainty in the licensing process, and will help lower costs for companies in China by expanding the pool of easily accessible potential suppliers," said Mancuso.
    (Source: Shanghai Daily)
               
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