A story in Tuesday's Business and Finance section contained incorrect information on the U.S. Trade Exhibition that will be visiting the People's Republic of China. The exhibition will be held in the fall of 1980.

In a further expansion of U.S.-Sino trade relations, the first trade exhibition from the People's Republic of China to tour the United States has been scheduled for the fall of 1980.

The trade mission, which will be sponsored by the China Council for the Promotion of International Trade in conjunction with the National Council for U.S.-China Trade, will hold a major exhibition for two weeks in San Francisco in September, two weeks in Chicago in October and two weeks in New York in November. The dates and locations of the exhibits are still tentative.

The show will not only feature products from China's light and heavy industries, but will include cultural and educational exhibits. Bicycles, Ping Pong paddles, thermos bottles, musical instruments and carvings made from jade, ivory, wood and stone will be on display.

The exhibition will cover about 100,000 square feet and will include a retail store to sell items directly to the public. The trade delegation members will also be meeting with U.S. importers to try and expand their inventory.

"The only way they can buy more from us is if they sell more to us," said Gilbert A. Robinson, chairman of the U.S.-China Business Development Corp. which will organize and manage all three exhibitions.

The long-awaited Chinese exhibition is a result of the Sino-U.S. Trade Exhibitions Agreement which was signed in May to stimulate trade between the two countries. A similar exhibit from the United States is planned to be staged in Peking this fall.