Premier Li expects early conclusion of China-U.S. investment treaty negotiations

Chinese Premier Li Keqiang (R) meets with former U.S. Treasury Secretary Henry Paulson at the Diaoyutai State Guest House in Beijing, capital of China, Oct. 20, 2016. (Xinhua/Ding Lin)

Premier Li Keqiang on Thursday called on China and the United States to make efforts for an early conclusion of their bilateral investment treaty (BIT) negotiations.

China and the United States have agreed to BIT talks on the basis of pre-establishment national treatment (PENT) plus a negative list approach. It is the first time that China has adopted the model in BIT talks with foreign countries, Li said, noting that this showed the importance China attaches to BIT talks.

PENT means that foreign investors and their investments will be accorded national treatment in the pre-establishment phase of their businesses.

Li told visiting former U.S. Treasury Secretary Henry Paulson at the Diaoyutai State Guest House that through the BIT talks, both sides sent a positive signal to the world that China and the United States support trade and investment facilitation and liberalization.

China hopes that the two sides will work flexibly and pragmatically to make the talks produce positive results and reach a high-level investment treaty, so as to realize mutual benefits, Li said.

China and the United States started BIT negotiations in 2008.

Speaking highly of the Paulson Institute's role in promoting China-U.S cooperation, Li called on the Institute to make a greater contribution to a healthy and stable China-U.S. relationship.

Premier Li's trip to New York last month yielded positive results and was beneficial to U.S.-China ties, Paulson said, stressing that the Paulson Institute was ready to enhance exchanges and cooperation with China.

On Friday, Vice Premier Wang Yang held a meeting with Paulson and members of the CEO Council of Sustainable Urbanization to exchange views on China-U.S. economic ties, as well as other issues of common concern.