China hopes that the newly-established U.S. federal agency targeting "unfair trade practices" will operate transparently, Minister of Commerce Chen Deming said Wednesday.

China has noticed that the Interagency Trade Enforcement Center (ITEC) has been set up, said Chen at a press conference, adding that the country was willing to communicate with it under the WTO rules.

The ITEC is expected to coordinate the enforcement of U.S. trade rights under international trade agreements and enforcement of domestic trade laws, according to a previous statement from the White House.

Economic and trade ties between China and U.S. serve as an important foundation for the bilateral relations and are in line with the long-term interests of the people of the both sides, said Chen.

Chen noted that China has been strictly abiding by its commitment made at the G20 summit in Cannes that all countries should avoid introducing new trade protectionism measures, while the U.S. side introduced such an agency at this time.

"We are paying close attention to its operation and watching whether it obeys the rules of international trade," Chen added.

Chen also pledged to protect the legitimate interests of Chinese corporate citizens and the country in accordance with the law.

(Xinhua News Agency March 5, 2012)