US Secretary of Commerce on President Xi’s state visit

Global Business

Some major deals between China and the U.S. have already been announced. General Electric in the U.S. and the state-owned China National Machinery Industry are teaming up for clean energy projects in Africa.

A three billion dollar fund for energy-efficient projects in China was announced, and a Chinese train firm is getting involved with building a high-speed rail link between Southern California and Las Vegas. It’s the first high-speed rail project in the U.S. with Chinese investment.

Top economic advisers to Chinese President Xi Jinping made a rare public appearance to tout new cooperation deals between U.S. and Chinese companies. It was in an attempt to highlight common interests ahead of what may be tense talks between China’s President Xi and U.S. President Barack Obama.

Advisers on Thursday unveiled new deals in energy and railways that include a tie-up between General Electric Co. and China National Machinery Industry Corp.

CCTV’s Wang Guang interviewed Penny Pritzker, U.S. Secretary of Commerce, about the possible economic highlights of President Xi and President Obama’s conversations.

Penny Pritzker talks with CCTV about China-US economic relationship

There is no specific time-frame for conclusion at this point", U.S. Secretary of Commerce Penny Pritzker talked with CCTV America's Wang Guan on China-U.S.bilateral Investment Treaty. Pritzker dampened hopes that there could be a deal signed during President Xi Jinping's upcoming state visit to America. "It requires an enormous amount of effort to meet the kind of standards necessary for our two countries to enjoy such a treaty." said Pritzker. Secretary Pritzker underscored the importance of U.S.-China economic relationship, which, together accounts for 35% of the world's GDP. Frictions such as U.S. high-tech export control regime, in her view, is insignificant in that "it only accounts for 0.4% U.S. export to China". The Commerce Secretary also discussed the Federal Reserve's decision not to raise rates in September, and a series of issues concerning U.S.-China economic and investment ties.