US sees China investment talks productive after new offers: USTR

Bilateral investment talks between the United States (US) and China "continue to be productive," the US Trade Representative's office said on Friday after the two sides exchanged new offers.

A USTR spokesperson said US and Chinese negotiators exchanged revised "negative lists" of sectors that would stay off-limits from foreign investment as they try to reach a bilateral investment treaty.

"China will need to demonstrate the substantial liberalisation of its investment market, ensure that US firms can compete on a level playing field, and address other key priorities to facilitate the progress and successful conclusion of a mutually beneficial and high standard BIT," the USTR spokesperson said in a statement.