Beijing, July 30 - The US administration has decided to lift its restrictions on the export of hi-tech goods to China, a media report said Thursday.

The China Daily quoted Vice-Premier Wang Qishan, who took part in the two-day China-US Strategic and Economic Dialogue that ended in Washington Tuesday, as saying: 'The US pledged to facilitate exports of high-technology products from the US to China.'

Sino-US trade touched $333.7 billion last year in spite of the global financial crisis. The volume of trade was $2.5 billion 30 years ago.

However, the US suffers from a significant trade deficit with China and has blamed the 'undervalued' yuan for this.

Analysts have said the reluctance of the US to export hi-tech products was partly to blame and noted that unrestricted sales of hi-tech goods would help balance bilateral trade.

'The relationship with China is one of the most important global relationships for the US now and in the years ahead,' said US-China Business Council President John Frisbie.