China to Resume Investment Talks with US
China has agreed to resume talks on a bilateral investment treaty with the US which could open up new opportunities for businesses in both countries. Chinese officials have agreed to include all sectors in the treaty, the first time Beijing has done so. The US has been pushing for such a deal as American firms have been keen to get more access to the Chinese market amid growing consumer demand there. A deal could see key sectors in China open up to investment by US firms.
“A high standard US-China bilateral investment treaty is a priority for the United States and would work to level the playing field for American workers and businesses by opening markets for fair competition,” Treasury Secretary Jacob Lew said in a statement.
“The commitment made today stands to be a significant breakthrough and marks the first time China has agreed to negotiate a Bilateral Investment Treaty, to include all sectors and stages of investment, with another country,” he added.