2016年CRI China, U.S. Conclude Annual High-level Dialogue（在线收听）

One of the main topics at the annual Dialogue was a bilateral investment treaty.

Speaking after the talks, Chinese Vice Premier Wang Yang said the two sides agreed to speed up negotiations on a Bilateral Investment Treaty.

"The two countries will exchange new 'negative list' offers in mid-June. We will try to reach a mutually beneficial and high-level agreement at an early date. The two sides agreed to continue to discuss the issue of export controls through the China-U.S. High Technology and Strategic Trade Working Group." 

China and the US have held 24 rounds of talk on the treaty since 2008.

The last time they exchanged negative lists was in September last year.

Such a list is used to outline sectors that are closed to foreign investment.

Wang Yang said the two countries will also try to achieve mutual recognition of airworthiness for transport aircraft and aim to complete peer review of fossil fuel subsidies within the G20 framework ahead of the Hangzhou summit in September.

In regard to industrial overcapacity, Wang Yang called for legal means, plans, and proper policies to address the issue, rather than through trade remedies.

On the strategic side, the two countries talked about hotspot issues including the South China Sea.

State Councilor Yang Jiechi called on the United States to deliver on its pledge to take no position on the disputes. He reiterated China's stance.

"The islands in the South China Sea have been China's inherent territory since ancient time. China has the right to safeguard territorial sovereignty and legitimate maritime rights and interests. China's position of not accepting or participating in the arbitration of the South China Sea issue in accordance with the international law remains unchanged."

Yang noted that China respects and protects the freedom of navigation and overflight.

He again said the disputes should be settled peacefully through negotiations and consultations by the countries concerned and the United States should play a constructive role in safeguarding peace and stability in the region.

During the talks, the two sides also agreed to enhance cooperation on climate change and vowed to join hands to fight against money laundering, terrorism financing, and counterfeiting.

US Secretary of State John Kerry said improving dialogue will help with the creation of a new-type relationship.

"I believe in these two days we made significant headway in constructively addressing the challenges before us and I'm confident we are going to continue to engage productive, fruitful discussions in the weeks and months ahead. The complex era in which we live demands cooperation and collaboration, not conflict and discord, and requires a new model of our partnership."

Also during the meetings, the two sides agreed to closely cooperate under the G20 framework to boost the world economy.

They also called on all parties concerned to join hands to create conditions for resuming the Six-Party Talks at an early date and work for a nuclear-free Korean Peninsula.