Sino-US investment focus of US ambassador

New United States ambassador to China, Max Baucus, said in his first public speech on Wednesday that advancing the Bilateral Investment Treaty (BIT) will be a top priority during his tenure.

"While we still have a lot of work to do for concluding the BIT, helping to move it forward would a top priority of mine. I am going to work very hard to make this Bilateral Investment Treaty successful," Baucus said addressing the hundreds of members of the American Chamber of Commerce in China.

He said that turning away from China and refusing to engage would do nothing to alleviate those concerns such as labor standards, PLA issues and environmental standards. And while China's rise presented certain challenges, it also held up a tremendous response.

A member of the Democratic Party, Baucus was appointed to serve as Ambassador to China by President Barack Obama in February, succeeding Gary Locke. When he was in the Senate Baucus strongly supported the permanent normal trade relations with China and late China's succession into the WTO.

Baucus said that China now faces a new WTO moment.

"Even as China has experienced tremendous growth and development for the last 20 years, new challenges have emerged. Building a modern, energy efficient, innovative economy that can deliver equitable and sustainable growth require a new round of the sort of broad based reform when China joined the WTO."

"I don't believe anyone can push hard enough to make China do something that is not in China's interests. But I fully recognize the important role the US and other countries can play in helping China to implement reforms that lead to sustainable and balanced growth," Baucus said.