Business / Economy

China positive on investment treaty negotiations with US

(Xinhua) Updated: 2014-03-18 17:45

BEIJING - China said on Tuesday that it is positive on negotiations over an investment treaty with the United States and hopes for the two sides to work for an agreement at an early date.

Spokesman for China's Ministry of Commerce Shen Danyang made the remarks at a press conference here.

"We hope both China and the United States will take an attitude of pragmatic cooperation and work toward the same goal, so as to reach an agreement that is mutually beneficial and satisfactory to both sides at an early date," Shen said.

He said that the negotiations over the China-US bilateral investment treaty constitute one of China's most important economic and trade negotiations, given that the discussion is between the world's biggest and second-biggest economies. Meanwhile, the talks are strongly connected with China's efforts in deepening reforms and opening wider to the outside world.

"We are positive on the negotiations and have done a great deal of pragmatic work," Shen said, adding that China's agreement to adopt equal treatment for both domestic and foreign firms as well as its introduction of "negative list" management has been a breakthrough in promoting the talks.

According to the spokesman, the talks will also offer a good opportunity to improve the country's foreign investment management system and for better protection of its overseas interests.

Talks over the treaty were initiated in 2008. The two sides held the 12th round of talks in Washington between March 4 and 8.

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