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US, China economies 'inseparable': China official

Published on NewsOK Modified: December 19, 2012 at 7:50 pm •  Published: December 19, 2012
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"When we say we are opening up in China, it's not just empty talk," said Wang, who has been China's point man on financial and trade policy with the United States. He will soon be giving up that portfolio to focus on the fight against corruption.

Both sides were upbeat about the wide-ranging trade talks.

The U.S. cited progress on intellectual property protection, market barriers and Chinese government procurement policies but said there was much more to be done.

"We have provided a new platform for a strong U.S.-China relationship," acting U.S. Commerce Secretary Rebecca Blank told a news conference.

China pointed to U.S. reforms of its controls on high-technology exports and a commitment to fair treatment for Chinese companies investing in the U.S. China claims its companies are discriminated against in national security screening procedures.

Commerce Minister Chen Deming sounded a note of caution, saying China still needed to wait for a while to observe "what kind of measures the U.S. side is going to take." Wang contended that Chinese investors were being subject to political background checks.

U.S. Trade Representative Ron Kirk said China's concerns on the investment screening would be referred to Treasury but defended the screening procedures as having affected few investors. He said Chinese direct investment in the U.S. had grown to $9 billion from $2 billion in just three years.