China, US basically complete text negotiation on BIT
CRI 2015-03-09
China, US basically complete text negotiation on BIT
The Chinese Ministry of Commerce has announced the text of a bilateral investment treaty with the United States has been completed.
The two sides are now exchanging negative lists which detail which areas are going to have investment restrictions.
Chinese Commerce Minister Gao Hucheng:
"The China-U.S. negotiations on the Bilateral Investment Treaty are major negotiations between China and the United States, the world’s second largest and largest economies. Frankly speaking, once the two countries sign this investment treaty, it will have far-reaching implications for global investment rules."
At the same time, Gao Hucheng says his office has now received the text for a potential investment treaty from the new European Union leadership.
He says ministerial officials are now studying the text and preparing to deliver the Chinese text to the EU.
