News / USA

US Sees Progress in Economy Talks with China

Multimedia

Audio

U.S. Treasury Secretary Timothy Geithner says differences remain, but the United States and China made progress in high-level talks this week in Beijing.

U.S. Treasury Secretary Timothy Geithner says China has taken steps to modify a controversial policy that was a source of growing concern among U.S. and other international businesses, and a key issue American officials raised during the Strategic and Economic Dialogue.

Business leaders have complained a new Chinese policy named "indigenous innovation" makes it difficult for foreign companies to compete in the country.  The policy gives advantages to companies bidding for government contracts that conduct their research and development in China and patent their innovations here.

"And we welcome the progress we achieved to provide a more level playing field for American firms exporting to China and operating in China," said Geithner.

Geithner said officials from both countries would be holding a series of talks to address remaining concerns in the coming weeks and months.

He also welcomed China's commitment to submit a revised offer to join a World Trade Organization agreement by July that sets standards for international access to government contracts. He welcomed its commitments to reduce barriers to foreign investment in services, high-tech goods, energy saving products and high-end manufacturing.

"This is progress," he added.  "It does not fully resolve our concerns, but it gives us a set of basic principles to move forward."

The two sides also agreed to work to develop China's vast natural gas capacity.

U.S. and Chinese officials both spoke about how their cooperation is important to helping stabilize the world's recovery from the global financial crisis.

They noted that while there is promising improvement in the pace of growth in China and the United States, they would also work together to support efforts to help countries in Europe with the challenges they face.

Vice Premier Wang Qishan said the second round of strategic and economic talks with officials from the Obama administration was a success and that both sides had in-depth discussions and reached agreements.

Wang says that as the biggest developing country and biggest developed country, the mutual economic relationship of the United States and China is having an impact on the entire world.

The two sides did not make any additional comments regarding requests from Chinese officials for Washington to put an end to curbs on "dual use" high-tech exports that have possible military applications.

The United States is reviewing its export control policy and is expected to announce changes to the policy in the next few months.

China did not make any additional statements regarding its currency policy, which has been a persistent issue.  On Monday, Chinese President Hu Jintao stressed China would continue with the gradual reform of its currency, the yuan, but at its own pace.

You May Like

Ebola Death Toll Nears 5,000 as Virus Advances

West Africa bears heaviest burden; Mali toddler’s death raises new fears More

Jordan’s Battle With Islamic State Militants Carries Domestic Risks

Despite Western concerns that IS militants are preparing a Jordanian offensive, analysts call the kingdom's solid intel a strong deterrent More

Asian-Americans Assume Office in Record Numbers

Steadily deepening engagement in local politics pays off for politicians like Chinese-American Judy Chu More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Talks to Resume on Winter Gas for Ukrainei
X
Al Pessin
October 25, 2014 4:21 PM
Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Talks to Resume on Winter Gas for Ukraine

Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video Comanche Chief Quanah Parker’s Century-Old House Falling Apart

One of the most fascinating people in U.S. history was Quanah Parker, the last chief of the American Indian tribe, the Comanche. He was the son of a Comanche warrior and a white woman who had been captured by the Indians. Parker was a fierce warrior until 1875 when he led his people to Fort Sill, Oklahoma, and took on a new, peaceful life. As VOA’s Greg Flakus reports from Cache, Oklahoma, Quanah’s image remains strong among his people, but part of his heritage is in danger of disappearing.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.

All About America

AppleAndroid