China president welcomes Obama's visit for APEC summit

GMT 16:00 2014 Thursday ,10 July

Arab Today, arab today China president welcomes Obama's visit for APEC summit

Tokyo - KUNA

Chinese President Xi Jinping said on Thursday that he welcomes and expects talks with US President Barack Obama when he visits China to attend the Asia Pacific Economic Cooperation (APEC) leaders' meeting in November state-run Xinhua News Agency reported.
Xi made the remarks while meeting with two delegations for the sixth China-US Strategic and Economic Dialogue and the fifth China-US High-Level Consultation on People-to-People Exchange held in Beijing since Wednesday.
"The new model of China-US relationship is drawn from the experience of bilateral ties over the past 35 years," Xi was quoted as saying. Xi said he and President Obama are determined to ensure healthy and stable growth of China-US ties on a correct track. "China is willing to make concerted efforts to this end," he said.
US Secretary of State John Kerry, for his part, described this round of dialogue as "excellent." He quoted Obama as saying the US welcomes and hopes to see a "strong, prosperous and stable" China. "We mean what we said," he added.
At the two-day strategic economic dialogue concluded earlier in the day, Chinese and US officials agreed on "constructive" management of differences, according to the report, "The success of this round of talks reaffirms that the two countries have the ability and wisdom to manage their contradictions and differences," Chinese Vice Premier Wang Yang said at the closing session.
Wang highlighted the economic dialogue that yielded over 90 items of agreement, laying the foundation for the meeting of the two presidents in November. The two sides agreed to resolve core issues and major provisions of the Bilateral Investment Treaty by the end of the year, and initiate negotiations on the "negative list," namely sectors and items barred to each other's investment, in early 2015, according to the report.
The US promised to apply the same rules and standards when reviewing foreign investment projects, and to continue to review the procedure with China.
The US will encourage the export of civil high-technology products to China, and adjust its approval procedures for liquefied natural gas (LNG) exports. China and the US also agreed to reinforce cooperation in shadow banking, over-the-counter (OTC) derivatives, cross-border supervision and accounting standards, and the US promised to treat Chinese financial institutions as compliant.
US Treasury Secretary Jacob Lew, who co-chaired the dialogue, acknowledged the progress on a wide range of issues since the annual talks initiated in 2009. "Today's Strategic and Economic Dialogue commitments will further China's implementation of its reform agenda and will create new opportunities for both of our nations." Lew said.

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