Premier Li voices hope to advance BIT negotiation

Chinese Premier Li Keqiang (R) shakes hands with former U.S. Treasury Secretary Henry Paulson during their meeting in Beijing, capital of China, Nov. 7, 2013. (Xinhua/Li Tao)

Chinese Premier Li Keqiang said on Thursday that he hopes China and the United States will advance negotiations on a bilateral investment treaty (BIT).

Li made the remarks during a meeting with former U.S. Treasury Secretary Henry Paulson in Beijing, saying that China and the U.S. need to promote pragmatic cooperation in all fields.

The two sides need to convert complementary advantages into cooperation and properly handle differences to safeguard overall development of bilateral relations, Li said.

He pointed out that China will step up its reform and opening up and the pace of development will also be accelerated.

Li also voiced hope for the two sides to advance BIT negotiations and provide institutional guarantees for the two sides' investment and cooperation.

He urged the U.S. side to provide a fair competition environment for Chinese investment in the U.S. and relax its restrictions on high-tech products to China, adding that the two countries need to enhance coordination on macroeconomic policy, adopt responsible domestic economic policy and participate in regional economic integration under the principles of openness and transparency.

Paulson said the Chinese government has made considerable achievements in various aspects, such as the transformation of government functions, technology innovation, energy conservation and environmental protection.

He said the U.S. side is willing to strengthen cooperation with China for the overall development of bilateral relations.