China decided to allow imports of genetically modified soybeans from the US. The move was widely seen as a goodwill gesture to trim the bilateral trade deficit between the two countries.
The news was announced by a senior US official who said that China would offer life-long approval for imported US soybeans, worth US$2 billion per year.
The move was not expected to affect growing US criticism of Chinese economic policy in the face of a record US$130 billion trade deficit this year.