US, China agree to launch investment negotiations

AP

WASHINGTON (AP) — The United States and China, concluding high-level economic talks, agreed to launch negotiations on an investment treaty that holds out the promise of greatly expanded opportunities for U.S. companies in China's vast market.

The two countries also pledged greater cooperation to deal with energy shortages and global pollution.

The agreements were announced on Wednesday by Treasury Secretary Henry Paulson, who said he believed the initiatives would produce "significant progress" on two priorities both nations share.

The announcements came as the two countries concluded two days of talks aimed at defusing simmering economic tensions. Paulson and Chinese Vice Premier Wang Qishan participated in a joint signing ceremony in Treasury's ornate Cash Room to wrap up the fourth round of a series of talks known as the Strategic Economic Dialogue.

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US, China agree to launch investment negotiations »