News / Economy

US, China to Restart Investment Talks

US, China to Restart Investment Talksi
X
July 12, 2013 10:27 AM
The United States and China have agreed to restart negotiations on a bilateral investment treaty that could expand Chinese market access for American investors. The agreement came during talks between senior Chinese and U.S. officials in Washington. VOA State Department Correspondent Scott Stearns has the story.
US, China to Restart Investment Talks
The United States and China have agreed to restart negotiations on a bilateral investment treaty that could expand Chinese market access for American investors. The agreement came during talks between senior Chinese and U.S. officials in Washington.

This is the first time China has agreed to talks on a treaty covering foreign investment in all sectors of its economy. The move shows Beijing's new leaders recognize that future growth will not be met by models of the past, said U.S. Treasury Secretary Jacob Lew.

"They know they need more market-oriented features to their economy, and we need to open markets to each other," Lew said. "We welcome Chinese investment in the United States. We welcome the opportunity to have U.S. investment in China."

Beijing and Washington agreed to increase cooperation on financial regulations, law enforcement, over-the-counter derivatives and accounting standards -- all important steps forward, said Chinese Vice Premier Wang Yang.

"The United States welcomes Chinese financial institutions to invest in the U.S. market. Mutual understanding and trust is an important prerequisite for a win-win cooperation between our two major countries."

With two-way trade of nearly $500 billion last year, a bilateral investment treaty could mean big gains for both economies. But it also would require approval by two-thirds of the U.S. Senate where many members have been critical of Chinese cyber-espionage, which experts say costs the United States hundreds of billions of dollars a year. U.S. Deputy Secretary of State Bill Burns.

"The technological ties that bind us together also introduce a new challenge to our bilateral relationship," Burns said. "During our engagement this week, we underscored that the cyber-enabled theft of trade secrets, intellectual property, and confidential business information is unacceptable."

China denies the cyber allegations and has become increasingly outspoken on the issue following leaks by the former U.S. intelligence analyst Edward Snowden that revealed widespread U.S. surveillance of Chinese targets. Chinese State Councilor Yang Jiechi.

"China is a victim of hacking attacks," Yang said. "China's view is that the relevant international cyber rules should be developed by the U.N. to help uphold cyber security in all countries."

On rival maritime claims in the South China Sea and the East China Sea, Yang says China hopes the United States will support efforts to resolve the disputes through dialogue.

"Both sides are of the view that efforts to build a new model of major country relationship should start in the Asia-Pacific," Yang said. "The two sides decided to hold the next round of Asia-Pacific consultations this fall and jointly uphold peace, stability and development in the Asia-Pacific."

During these talks, U.S. and Chinese officials also discussed the war in Syria, the withdrawal of international forces from Afghanistan, and the nuclear programs of Iran and North Korea.

You May Like

Report: $60 Billion Leaves Africa Illegally Each Year

Report by a joint UN and African Union panel says African countries need to take concrete measures to stop billions of dollars from illegally being moved out of continent each year More

Video Spy Murder Probe Likely to Further Strain British-Russian Relations

Some analysts say Russian Tu-95 bombers were flying near British airspace to warn Britain about an inquest into a murdered Russian spy More

Mugabe Defends Image Amid Controversy at Close of AU Summit

He rejects concerns about how the West might perceive his leadership, saying he's focused on African development More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Spy Murder Probe Likely to Further Strain British-Russian Relationsi
X
Henry Ridgwell
January 31, 2015 10:50 PM
Relations between Russia and the West are set to become even more strained amid an inquiry in London into the murder of a former Russian spy. Lawyers at the inquiry accuse Russian President Vladimir Putin of directing a "mafia state." Meanwhile, Royal Air Force fighters intercepted Russian bombers close to British airspace this week, prompting authorities to summon Moscow’s ambassador. Henry Ridgwell reports.
Video

Video Spy Murder Probe Likely to Further Strain British-Russian Relations

Relations between Russia and the West are set to become even more strained amid an inquiry in London into the murder of a former Russian spy. Lawyers at the inquiry accuse Russian President Vladimir Putin of directing a "mafia state." Meanwhile, Royal Air Force fighters intercepted Russian bombers close to British airspace this week, prompting authorities to summon Moscow’s ambassador. Henry Ridgwell reports.
Video

Video Ukrainian Neighborhood Divided Over Conflict

People in eastern Ukraine’s Donetsk and Luhansk districts find themselves squarely in the path of advancing Russian-backed rebels, who want to take back the territory they held at the beginning of the conflict last year. Many local residents are afraid, but others would welcome the change, even when a rebel shell lands in their neighborhood. From the Luhansk district, 15 kilometers from where the Ukrainian government marks the front line, VOA’s Al Pessin reports.
Video

Video Threat of Creeping Lava Has Hawaiians on Edge

Residents of the small town of Pahoa on the Big Island of Hawaii face an advancing threat from the Kilauea volcano. Local residents are keeping a watchful eye on creeping lava. Mike O’Sullivan reports.
Video

Video Jefferson's Library Continues to Impress, 200 Years Later

Two hundred years after the U.S. Congress purchased a huge collection of books belonging to former President Thomas Jefferson, it remains one of America’s greatest literal treasures and has become the centerpiece of Washington’s Library of Congress. VOA’s Deborah Block reports.
Video

Video Egypt's Suez Canal Dreams Tempered by Continued Unrest

Egypt plans to expand the Suez Canal, raising hopes that the end of its economic crisis may be in sight. But some analysts say they expect the project may cost too much and take too long to make life better for everyday Egyptians. VOA's Heather Murdock reports.
Video

Video Pro-Kremlin Youth Group Creatively Promotes 'Patriotic' Propaganda

As Russia's President Vladimir Putin faces international pressure over Ukraine and a failing economy, unofficial domestic groups are rallying to his support. One such youth organization, CET, or Network, uses creative multimedia to appeal to Russia's urban youth with patriotic propaganda. VOA's Daniel Schearf reports.
Video

Video Filmmakers Produce Hand-Painted Documentary on Van Gogh

The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Issues or Ethnicity? Question Divides Nigeria

As Nigeria goes to the polls next month, many expect the two top presidential contenders to gain much of their support from constituencies organized along ethnic or religious lines. But are faith and regional blocs really what political power in Nigeria is about? Chris Stein reports.
Video

Video Rock-Consuming Organisms Alter Views of Life Processes

Scientists thought they knew much about how life works, until a discovery more than two decades ago challenged conventional beliefs. Scientists found that there are organisms that breathe rocks. And it is only recently that the scientific community is accepting that there are organisms that could get energy out of rocks. Correspondent Elizabeth Lee reports.
Video

Video Paris Attacks Highlight Global Weapons Black Market

As law enforcement officials piece together how the Paris and Belgian terror cells carried out their recent attacks, questions are being asked about how they obtained military grade assault weapons - which are illegal in the European Union. As VOA's Jeff Swicord reports, experts say there is a very active worldwide black market for these weapons, and criminals and terrorists are buying.
Video

Video Activists Accuse China of Targeting Religious Freedom

The U.S.-based Chinese religious rights group ChinaAid says 2014 was the worst year for religious freedom in China since the end of the Cultural Revolution. As Ye Fan reports, activists say Beijing has been tightening religious controls ever since Chinese leader Xi Jinping came to office. Hu Wei narrates.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8845
JPY
USD
117.71
GBP
USD
0.6643
CAD
USD
1.2669
INR
USD
62.019

Rates may not be current.