US, China Near Negative List Exchange for Investment Pact, Says China

U.S. and Chinese negotiators have “basically completed” negotiations on the bilateral investment treaty text, the Chinese Commerce Minister said in recent days (here). The two sides are “advancing toward a period of exchanging the negative lists,” said a March 7 government press release that summarized Minister Gao Hucheng’s comments. President Barack Obama and Chinese President Xi Jinping months ago called for that exchange in early 2015 (see 1412190033). The negative lists include investment areas that won’t be subject to the investment treaty. “Given the US and China, the world’s biggest and second biggest economies, have different development levels, national conditions and growth modes, the negative lists exchange would be a challenge to each side,” said the release. Deputy U.S. Trade Representative Robert Holleyman traveled to Beijing on March 9, but USTR didn't disclose the details of his visit.