Exchange Database
China, US reach agreement Infrastructure key to the future
China and the United States agreed at the Sixth Annual US-China CEO and Former Senior Officials' Dialogue to strengthen cooperation on infrastructure while calling for an acceleration of talks on a bilateral investment treaty. Both sides agreed there are tremendous investment opportunities and huge potential, and urged the governments to conclude the bilateral investment treaty negotiations as soon as possible. A report put out by the China Center for International Economic Exchanges estimated that by 2020, upgrading infrastructure in the US will require $3.6 trillion, and the shortage of funds will total $1.6 trillion. China and the US have great potential to cooperate in science and technology investment, energy, environmental protection investment, manufacturing and agriculture.
Outcomes:
The need for investment in the US in energy, infrastructure, transportation and water is very high and is a potential significant opportunity for foreign investors. Challenges to cooperation between the world's two largest economies remain: for example, the slow progress of the Sino-US BIT talks, insufficient strategic mutual trust, language barriers and cultural gaps, and a lack of understanding on each side of the other's investment environment. At the meeting, the two sides agreed to consolidate the WTO system, including expanding and concluding the Information Technology Agreement
Government?:
No
Type of Exchange:
business
Partners:
China Center for International Economic Exchanges
US Chamber of Commerce
Participants (Types):
Chen Wenling- chief economist at the CCIEE, Jeremie Waterman-executive director for greater China of the US Chamber of Commerce , Chinese Premier Li Keqiang, US Chamber of Commerce President and CEO Thomas Donohue, US Chamber of Commerce Board of Directors Tamara Lundgren
Exchange Date:
Wednesday, July 23, 2014
Continuing:
No
Image:
Location:
Beijing, China
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