CDRF Releases Research Results of “China-US Bilateral Investment Treaty”
On March 20th 2015, China Development Research Foundation (CDRF) and Peterson Institute for International Economics (PIIE) jointly held a seminar on “China-US Bilateral Investment Treaty” and released the research results from both sides. Over 40 guests attended the seminar, including research fellows from PIIE, Economic Specialist and Development Program Specialist from the US Embassy in China, and participants from Ministry of Commerce, National Development and Reform Commission, Peking University, Chinese Academy of Social Sciences, University of International Business and Economics, Renmin University of China and Central University of Finance and Economics. Lu Mai, Secretary General of CDRF, delivered the opening speech. Adam S. Posen, President of PIIE, also made an on-line address.
During the seminar, Zhao Jinping, Director General of the Research Department of Foreign Economic Relations of the Development Research Center of the State Council (DRC), and Lin Guijun, Deputy President of University of International Business and Economics, highly praised the release of this research project. Dr. Anthony NEOH, Senior Counsel of Hong Kong Bar and former Chief Adviser of the China Securities Regulatory Commission, and Nicholas R. Lardy, Senior Fellow at PIIE, further explained the impact of investment treaty on national legal proceeding and service trading respectively.
This research project aims to analyze and propose relevant suggestions to the structure, strategy, major obstacles and potential impact of China-US Bilateral Investment Treaty (BIT) while providing reference to China-US bilateral dialogues and related negotiations. The project focused on evolution of BIT in China and the US, BIT’s impact on service trading and manufacturing industry, competitive policies, security review on investment, negative list management pattern, and so on. CDRF commenced this research project in March 2014 and invited renowned experts from Peking University and Chinese Academy of Social Sciences for intellectual support. China International Capital Corporation also offered advice and assistance during the research process.
Lu Mai, Secretary General of CDRF, emphasized in the seminar that the agreement on “China-US BIT” would, in the first place, remove investment obstacles and enhance mutual confidence to a free and non-discriminatory competitive environment. High-level “China-US BIT” would also benefit China’s reform and institutional construction and enable China to participate in the construction of a new system for current global economic rules. If China and the US could firmly commit to open investment, it could be possible to stop the growing trend of protectionism and increase global confidence in free trade and investment.