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South China Business Journal
COVER STORY • The United States supports China’s presidency of the G-20 • The United States and China affirm the positive role that Select
in 2016 and looks forward to working closely with China to Reverse Trade Missions play in introducing U.S. advanced
promote strong, sustainable and balanced global growth. The technologies to projects of mutual interest and promoting
two sides support the G-20’s important role as the premier bilateral trade towards a more balanced direction.
forum for strengthening international economic cooperation
and coordination. • The United States and China highly value the important role
the U.S.-China Joint Commission on Commerce and Trade
• The United States and China recognize the positive progress of (JCCT) plays in promoting bilateral economic relations and
the ongoing bilateral investment treaty (BIT) negotiation. The expanding mutually beneficial cooperation. Both countries are
Leaders reaffirm as a top economic priority the negotiation of a high to ensure the success of the 26th JCCT by making progress on
standard BIT that reflects a shared commitment to the objectives key trade matters of their business communities.
of non-discrimination, fairness, and transparency, that effectively
facilitates and enables market access and market operation, and • Both countries affirm the value of adopting technology-product
that represents on each side an open and liberalized investment international standards that have been developed in an open,
regime. In light of the progress made in the BIT negotiations and transparent, market-driven, and balanced manner that allow for
both sides’ improved negative list proposals in September, the due process.
United States and China commit to intensify the negotiations and
to work expeditiously to conclude the negotiation of a mutually • Both countries affirm the importance of competition policy
beneficial treaty that meets these high standards. approaches that ensure fair and non-discriminatory treatment
of entities and that avoid the enforcement of competition law to
• The U.S. side reiterated its commitment to encourage and pursue industrial policy goals.
facilitate exports of commercial high technology items to China
for civilian-end users and for civilian-end uses. Both sides • Both countries commit that generally applicable measures
commit to continue detailed and in-depth discussion of the to enhance information and communication technology
export control issues of mutual interest within the U.S.-China cybersecurity in commercial sectors (ICT cybersecurity
High Technology and Strategic Trade Working Group. regulations) should be consistent with WTO agreements, be
narrowly tailored, take into account international norms, be
• The United States and China commit to limit the scope of nondiscriminatory, and not impose nationality-based conditions
their respective national security reviews of foreign investments or restrictions, on the purchase, sale, or use of ICT products by
(for the United States, the CFIUS process) solely to issues that commercial enterprises unnecessarily.
constitute national security concerns, and not to generalize the
scope of such reviews to include other broader public interest or • Both countries affirm that generally applicable measures
economic issues. regulating technology products in the commercial sector
benefit from meaningful consultation with the private sector,
• The United States welcomes investment from all countries, governments, and other stakeholders to encourage innovative,
including China. The United States commits to maintain an flexible, and cost-effective solutions.
open investment environment for Chinese investors, including
state-owned enterprises, as with investors from other countries. • The United States and China affirm the importance of developing
The United States reaffirms its open investment policy and a and protecting intellectual property, including trade secrets, and
commitment to treat all investors in a fair and equitable manner commit not to advance generally applicable policies or practices
under the law. that require the transfer of intellectual property rights or technology
as a condition of doing business in their respective markets.
• The two sides welcome the promotion of U.S.-China sub-
national economic and trade and investment cooperation. • Both countries affirm that states should not conduct or knowingly
In that vein, U.S. Department of Commerce and the Chinese support misappropriation of intellectual property, including
Ministry of Commerce endeavor to complete a memorandum of trade secrets or other confidential business information with the
understanding highlighting the priority that each agency places intent of providing competitive advantages to their companies
on facilitating sub-national economic, trade, and investment or commercial sectors. Both countries affirm that states and
cooperation at this year’s U.S.-China Joint Commission on companies should not by illegal methods make use of technology
Commerce and Trade. and commercial advantages to gain commercial benefits.
10
COVER STORY • The United States supports China’s presidency of the G-20 • The United States and China affirm the positive role that Select
in 2016 and looks forward to working closely with China to Reverse Trade Missions play in introducing U.S. advanced
promote strong, sustainable and balanced global growth. The technologies to projects of mutual interest and promoting
two sides support the G-20’s important role as the premier bilateral trade towards a more balanced direction.
forum for strengthening international economic cooperation
and coordination. • The United States and China highly value the important role
the U.S.-China Joint Commission on Commerce and Trade
• The United States and China recognize the positive progress of (JCCT) plays in promoting bilateral economic relations and
the ongoing bilateral investment treaty (BIT) negotiation. The expanding mutually beneficial cooperation. Both countries are
Leaders reaffirm as a top economic priority the negotiation of a high to ensure the success of the 26th JCCT by making progress on
standard BIT that reflects a shared commitment to the objectives key trade matters of their business communities.
of non-discrimination, fairness, and transparency, that effectively
facilitates and enables market access and market operation, and • Both countries affirm the value of adopting technology-product
that represents on each side an open and liberalized investment international standards that have been developed in an open,
regime. In light of the progress made in the BIT negotiations and transparent, market-driven, and balanced manner that allow for
both sides’ improved negative list proposals in September, the due process.
United States and China commit to intensify the negotiations and
to work expeditiously to conclude the negotiation of a mutually • Both countries affirm the importance of competition policy
beneficial treaty that meets these high standards. approaches that ensure fair and non-discriminatory treatment
of entities and that avoid the enforcement of competition law to
• The U.S. side reiterated its commitment to encourage and pursue industrial policy goals.
facilitate exports of commercial high technology items to China
for civilian-end users and for civilian-end uses. Both sides • Both countries commit that generally applicable measures
commit to continue detailed and in-depth discussion of the to enhance information and communication technology
export control issues of mutual interest within the U.S.-China cybersecurity in commercial sectors (ICT cybersecurity
High Technology and Strategic Trade Working Group. regulations) should be consistent with WTO agreements, be
narrowly tailored, take into account international norms, be
• The United States and China commit to limit the scope of nondiscriminatory, and not impose nationality-based conditions
their respective national security reviews of foreign investments or restrictions, on the purchase, sale, or use of ICT products by
(for the United States, the CFIUS process) solely to issues that commercial enterprises unnecessarily.
constitute national security concerns, and not to generalize the
scope of such reviews to include other broader public interest or • Both countries affirm that generally applicable measures
economic issues. regulating technology products in the commercial sector
benefit from meaningful consultation with the private sector,
• The United States welcomes investment from all countries, governments, and other stakeholders to encourage innovative,
including China. The United States commits to maintain an flexible, and cost-effective solutions.
open investment environment for Chinese investors, including
state-owned enterprises, as with investors from other countries. • The United States and China affirm the importance of developing
The United States reaffirms its open investment policy and a and protecting intellectual property, including trade secrets, and
commitment to treat all investors in a fair and equitable manner commit not to advance generally applicable policies or practices
under the law. that require the transfer of intellectual property rights or technology
as a condition of doing business in their respective markets.
• The two sides welcome the promotion of U.S.-China sub-
national economic and trade and investment cooperation. • Both countries affirm that states should not conduct or knowingly
In that vein, U.S. Department of Commerce and the Chinese support misappropriation of intellectual property, including
Ministry of Commerce endeavor to complete a memorandum of trade secrets or other confidential business information with the
understanding highlighting the priority that each agency places intent of providing competitive advantages to their companies
on facilitating sub-national economic, trade, and investment or commercial sectors. Both countries affirm that states and
cooperation at this year’s U.S.-China Joint Commission on companies should not by illegal methods make use of technology
Commerce and Trade. and commercial advantages to gain commercial benefits.
10
