last year in 2011, our total trade volume reached $447 billion. for the first half of this year, we recorded trade volume of $231 billion u.s., an increase of 12%. china is of the first largest and growing market. china is the no. 1 market for agriculture for u.s. agricultural products like soybeans and cotton. soybeans are 60% of -- is sold to china. one-third of u.s. cotton is sold to china. china is also an important market for u.s. automobiles and

aircraft. china also is in long-term market for u.s. service industry. in this area, the u.s. has done a long time service. at the same time, the chinese want to prepare -- entrepreneurs are interested in making investments in the united states so there are more and more chinese companies coming to the united states and investments. according to chinese statistics, for the last 18 months, the chinese investment in the united states grew by 18-40% -- by 14%. it is up to $6 billion. the investment is still a small

figure. it is growing very fast. today, our common interests have expanded and interdependence has been deepened. now, as the impact of the financial crisis still lingers, both china and the united states have committed to transforming their economic growth. their economic growth models by increasing input in some new areas like new energy, high- tech, high end manufacturing, i.t., bioscience, etc. these could translate into new corporation -- cooperation opportunities. the u.s. as you know is

implementing its export initiatives and select u.s. programs while the chinese government is implementing its plan. one of the main contents of the plan is to expand tschida's domestic demand -- tschida's domestic demand. so for the next five years, -- china's domestic demand. we will import 10 trillion dollars of food from abroad including those from the united states. also, china is now working very hard on a global strategy. we encourage the chinese companies to work, to invest in foreign countries, including the united states. with this drive going on, i

believe more and more chinese companies will come to invest in the united states. if we embrace all these efforts together, i am sure the result will benefit both countries on both sides. history and the facts have proven that china and the u.s. or sino-u.s. corp. is no zero sum game. rather, it is always win win and win win always prevails. as the two countries are at development level, the two countries have a divergent history and political system, it is natural and normal that we can encounter some difficulties in disagreement and frictions

during the course of our cooperation. that we should make a greater endeavour to expand our common interests and to properly deal with these differences. the chinese government will make rigorous efforts to create a more leveling -- a more level playing ground for investors in china. we will step up our ipr protection and further open up our market. at the same time, we also strongly urge the u.s. side to loosen its export controls to china and also urged the u.s. government to treat the chinese enterprises working in the united states in a fair manner. i think as long as we were close

together -- work close together, we will find more and more opportunities and we will find more and more when-when results. -- win-win results. i hope that the seminar could be a catalyst to boosting cooperation between china and california and san francisco. and help bring more tangible benefits to the economy and the people of both countries of both sides. thank you very much. [applause] >> thank you, vice minister. now we will proceed with the signing ceremony. that will be emceed by

[unintelligible] >> [speaking foreign language] good morning, distinguished guests, ladies and gentlemen. i am from the investment promotion agency. it is my honor to be the emcee of the signing ceremony today. matt have the honor of inviting the distinguished leaders -- may i have the honor of inviting the distinguished leaders to the podium for the signing ceremony? [speaking foreign language]

let's invite the hon. avenue sen -- gavin newsom, honorable edwin lee, the hon. minister of the deputy of commerce, the consulate general of china in san francisco, the minister of the embassy of china in the u.s. [speaking foreign language] and the tenant governor newsome is mcclaren's -- lt. gov. newsom

is joining us. [speaking foreign language] for the first year, the investment promotion energy and china sf to sign a memorandum of understanding. they are recycling the purchase contract. congratulations. [applause] [speaking foreign language]

let's invite both to sign the letter of tintend for soybean purchase -- intent for soybean purchase. congratulations and thank you. [applause] [speaking foreign language]

let's invite the china chamber of commerce and paramount. and blue diamond. the china chamber of commerce and blue diamond growers to sign the project on imports of all men's -- almonds. thank you. congratulations. [speaking foreign language]

ladies and gentlemen, this is the end of the signing ceremony. congratulations to the organizations and companies and thanks to the distinguished leaders witnessing the ceremony. thank you very much.

>> i am the director of community affairs. it is a great pleasure to

introduce mr. john martin. >> thank you all for being here. [applause] thank you for being here for the opening of the marine response emergency facility. i want to begin by introducing several dignitaries. the first is commission vice president mike hardeman. thank you. and commissioner steve nakaja. and i want to introduce our police department deputy chief at the airport, the guy in charge. david chen is here. from the adjacent coast guard facility, the commander. and we have staff members from our congressional delegation. we have staff members from senator feinstein's office,

nancy pelosi's office, and others. thank you for joining us today. [applause] throughout our history, safety and security has always been our priority. safety and security of our passengers, and safety of our employees. we are building on that commitment by commissioning what is the first fire rescue boat house facility on the west coast of the united states. more simply -- [airplane noise] we are at an airport. this is the first marine emergency response facility on the west coast. more simply, we can call it the first fireboat house at an airport. it is a core value for the airport team that we have worked together to provide an

exceptional airport, that we are innovating, and that we work in partnership. this is a partnership between the fire department and the airport. great project work by airport staff and the division of design and construction, who designed this building. the engineering staff support to the work. the architectural team and the design and construction staff -- i would like to recognize all the staff involved in the successful project. [applause] completed on budget, and one month ahead of schedule. we have an outstanding fire department staff at the airport. i believe we have one of the most recognized fire department staffs of any major airport in the u.s. the airport is committed to making sure staff has the latest and greatest technology and equipment to support their operation.