Full Text: Outcome list of President Xi Jinping's state visit to the United States (2)

Source:Xinhua Published: 2015-9-26 16:35:42

4. China and the United States recognize the positive progress of the ongoing bilateral investment treaty (BIT) negotiation. The Leaders reaffirm as a top economic priority the negotiation of a high standard BIT that reflects a shared commitment to the objectives of non-discrimination, fairness, and transparency, that effectively facilitates and enables market access and market operation, and that represents on each side an open and liberalized investment regime. In light of the progress made in the BIT negotiations and both sides' improved negative list proposals in September, China and the United States commit to intensify the negotiations and to work expeditiously to conclude the negotiation of a mutually beneficial treaty that meets these high standards.

5. The US side reiterated its commitment to encourage and facilitate exports of commercial high technology items to China for civilian-end users and for civilian-end uses. Both sides commit to continue detailed and in-depth discussion of the export control issues of mutual interest within the China-US High Technology and Strategic Trade Working Group.

6. China and the United States commit to limit the scope of their respective national security reviews of foreign investments (for the United States, the CFIUS process) solely to issues that constitute national security concerns, and not to generalize the scope of such reviews to include other broader public interest or economic issues. China and the United States commit that their respective national security reviews apply the same rules and standards under the law to each investment reviewed, regardless of country of origin. When an investment poses a national security risk, China and the United States are to use their respective processes to address the risk as expeditiously as possible, including through targeted mitigation rather than prohibition whenever reasonably possible. The national security review of each country is applicable only to investments completed after such review process is established. Once an investment has completed the national security review process of either country, the investment generally should not be subject to review again if the parties close the investment as reviewed under the respective national security review process. In their respective national security reviews, China and the United States commit not to use information, provided by entities not party to an investment, for the purpose, unrelated to national security, of promoting the commercial interests of a competitor of a party to that investment. China and the United States commit to continue exchanging views on issues regarding their respective national security reviews in the future, including the scope of each country's national security review process and the role in each country's national security review process for entities not party to an investment.

7. The United States welcomes investment from all countries, including China. The United States commits to maintain an open investment environment for Chinese investors, including state-owned enterprises, as with investors from other countries. The United States reaffirms its open investment policy and a commitment to treat all investors in a fair and equitable manner under the law. China and the United States commit to continue to communicate on bilateral investment issues, to promote development of bilateral investment.

8. The two sides welcome the promotion of China-US sub-national economic and trade and investment cooperation. In that vein, the Chinese Ministry of Commerce and US Department of Commerce and endeavor to complete a memorandum of understanding highlighting the priority that each agency places on facilitating sub-national economic, trade, and investment cooperation at this year's China-US Joint Commission on Commerce and Trade. As an example of such cooperation already taking place, the two sides are heartened by the role the Trade and Investment Cooperation Joint Working Groups established between Chinese provinces and cities and the US states of California, Iowa, Texas, Michigan, and Washington and the city of Chicago and welcome the establishment of similar mechanisms.

9. China and the United States affirm the positive role that Select Reverse Trade Missions play in introducing US advanced technologies to projects of mutual interest and promoting bilateral trade towards a more balanced direction. Both sides affirm that Select Reverse Trade Missions are conducive to promoting cooperation of both countries' enterprises in priority areas including energy, environment, healthcare, aviation and agriculture, which serves the common interests of China and the United States. Based on the discussions at the 7th Strategic and Economic Dialogue, the Ministry of Commerce of China and the US Trade and Development Agency commit to organize two targeted Select Reverse Trade Missions that bring two Chinese delegations to the United States to introduce them to US goods and services, consistent with US laws and policies, related to green infrastructure and green construction, including green engineering and design, green building and building efficiency, construction waste recycling, distributed energy, and smart city construction.

10. China and the United States highly value the important role the China-US Joint Commission on Commerce and Trade (JCCT) plays in promoting bilateral economic relations and expanding mutually beneficial cooperation. Both countries are to ensure the success of the 26th JCCT by making progress on key trade matters of their business communities.

11. Technology is one of the pillars of the bilateral economic relationship between the China and the United States. Creating the conditions for expanded two-way trade and investment in the technology sector and avoiding measures that restrict it are critical to sustaining positive momentum in the economic relationship between our countries.

(1) Both countries affirm the value of adopting technology-product international standards that have been developed in an open, transparent, market-driven, and balanced manner that allow for due process. Furthermore, both countries recognize that industry's participation in standards development without undue government influence is fundamental to rapid innovation and technology development.

(2) Both countries affirm the importance of competition policy approaches that ensure fair and non-discriminatory treatment of entities and that avoid the enforcement of competition law to pursue industrial policy goals.

(3) Both countries commit that generally applicable measures to enhance information and communication technology cybersecurity in commercial sectors (ICT cybersecurity regulations) should be consistent with WTO agreements, be narrowly tailored, take into account international norms, be nondiscriminatory, and not impose nationality-based conditions or restrictions, on the purchase, sale, or use of ICT products by commercial enterprises unnecessarily.

(4) Both countries affirm that generally applicable measures regulating technology products in the commercial sector benefit from meaningful consultation with the private sector, governments, and other stakeholders to encourage innovative, flexible, and cost-effective solutions.

(5) China and the United States affirm the importance of developing and protecting intellectual property, including trade secrets, and commit not to advance generally applicable policies or practices that require the transfer of intellectual property rights or technology as a condition of doing business in their respective markets.

(6) Both countries affirm that states should not conduct or knowingly support misappropriation of intellectual property, including trade secrets or other confidential business information with the intent of providing competitive advantages to their companies or commercial sectors. Both countries affirm that states and companies should not by illegal methods make use of technology and commercial advantages to gain commercial benefits.

12. China and the United States commit to conduct high-level and expert discussions commencing in early 2016 to provide a forum to support and exchange views on judicial reform and identify and evaluate the challenges and strategies in implementing the rule of law. US participants are to include leading members of the US judiciary, US government legal policy experts, and officials from the Departments of Commerce and Justice and the Office of the United States Trade Representative. Chinese participants are to include officials from the Central Leading Group on Judicial Reform, leading members of the Chinese judiciary, and Chinese government legal policy experts. This dialogue is to result in an improvement in the transparency and predictability of the business environment. This dialogue does not replace, duplicate or weaken existing regular bilateral legal and human rights dialogues between China and the United States.

13. With strengthening policies to promote agricultural innovation and food security and to advance sustainable development as the themes of the Strategic Agricultural Innovation Dialogue (SAID), the two sides discussed food security, agricultural biotechnology, big data and information technology innovation, environmental management and sustainable development, agricultural and support programs, and plans for future bilateral dialogue and cooperation. Both countries commit to strengthen cooperation and create an enabling environment for agricultural innovation in the two countries and the world at large.

Read more: Full Text: Outcome list of President Xi Jinping's state visit to the United States(3)

Posted in: Diplomacy

blog comments powered by Disqus