The upcoming visit is seen as a chance to further strengthen Sino-American ties, which have been under strain as of late. (Photo : www.sabc.co.za)
President Xi Jinping will primarily be occupied with negotiations regarding the China-United States Bilateral Investment Treaty during his upcoming state visit, according to China’s Ministry of Commerce.
In a report by the China Daily, Shen Danyang, ministry spokesperson, stated that this meeting between China and the U.S. will attempt to expedite the improvement of trade and economic cooperation between the two countries as well as bolstering bilateral relations.
"Xi's upcoming state visit to the U.S. is a matter of primary importance for Sino-U.S. relations and will exert a profound influence on bilateral relations and economic cooperation," said Shen.
For Mark Schwartz, vice chairman of Goldman Sachs Group Inc., it is a chance for the two nations to forge solid ties that would benefit the global economy as a whole, and as such, business communities from either side should support the initiative.
"The leaders of the world's two largest economies should focus on policies and initiatives that are big enough to result in meaningful economic growth but modest enough to achieve," he remarked.
"Both sides have a great opportunity to advance their interests to the benefit of the global economy," the vice chairman added.
According to Shen, both sides are deep in the process of thorough negotiations, the result of which will be concluded during President Xi's visit on Sept. 22-25.
In addition, Shen believes that one of the main reasons for the decline in U.S. investment in China during the first eight months of 2015 is the structural adjustment of foreign capital utilization in the Chinese economy.
