China, US exchange negative lists during investment treaty talks

China and the United States exchanged negative lists for the first time during their latest talks on a bilateral investment treaty, China's Ministry of Commerce announced Friday.

Negative lists outline sectors that are closed to investors.

The talks, the 19th Round of China-U.S. Bilateral Investment Treaty Negotiations from June 8 to 12 in Beijing, mark new progress in bilateral negotiations, the ministry said in a statement on its website.

The U.S. government in April added key infrastructure, technology and national security entities into its negative list, blocking Chinese investment without specific definitions over the restrictions.

China's Vice Finance Minister Zhu Guangyao said the same month that China had shorted its negative lists for the pilot free trade zones in Shanghai, Guangdong, Tianjin, and Fujian, but the negative list offers for the BIT talks will be decided through China-U. S. negotiations.

Investment treaty negotiations began in 2008 as both countries sought to increase mutual investment, which only accounted for a tiny share of overseas investment.

The treaty is expected to cement China-U.S. economic ties and significantly benefit the global economy.