Chinese VP urges US to remove political factors from bi-lateral economic co-operation

Chinese Vice President Xi Jinping in Los Angeles, CA Friday urged the United States to eliminate political factors from the economic co-operation between the 2 countries.

Xi made the remarks at the opening session of the China-U.S. Economic and Trade Cooperation Forum held in Los Angeles, the last leg of his 5-Day official visit to the United States.

We hope that the United States will continue to offer a fair and convenient environment for Chinese enterprises investing in America, adopt an objective and sensible approach to investment by Chinese enterprises, and make sure that political factors do not interfere with economic cooperation, said Xi.

He called on the 2 countries to foster a sound environment and raise the level of 2-way investment.

Noting China's full implementation of its World Trade Organization (WTO) commitments since its entry into the world trade body in Y 2001, Xi said the country has made tremendous efforts to revise laws and regulations, substantially lower the threshold for foreign investment, liberalize access to foreign trade operation and oppose protectionism in various forms.

Chinese companies, like their American counterparts, have won more International customers through hard work, innovation and fair competition, he said.

We will promote greater opening-up of China's economy, and continue to encourage all companies in China, foreign-invested ones included, to engage in fair competition and pursue innovation in the Chinese market, so that they will not only get a bigger share of the market, but also contribute to technological progress and social development, said Xi.

On issues concerning the Intellectual Property Rights (IPR), Xi said IPR protection provides the incentive for innovation and China is taking steps to build a more open and transparent legal and policy environment.

China is strengthening IPR protection through a mixture of judicial and administrative means, including the establishment of a vice-premier-level coordination mechanism for IPR protection, in order to provide a safe business environment for both domestic and foreign-invested enterprises, he said.

We hope that the United States will keep its security review of foreign investment open, fair and transparent, speed up the negotiation process on the bilateral investment agreement, and make Chinese companies feel more confident about investing in the United States, said the vice president.

Xi arrived in Los Angeles Thursday afternoon from the central state of Iowa. He started his U.S. visit in Washington DC Monday as a guest of his US counterpart Joe Biden.

The United States is the 1st leg of Xi's 3-nation tour, which will also take him to Ireland and Turkey.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.