皇冠体育app

WASHINGTON - US Treasury Secretary Jacob Lew said Tuesday that 皇冠体育app should allow the yuan to rise further and the United States will continue to push 皇冠体育app to open its market to US investors on a level playing field.

Lew said the yuan has made some progress and appreciated for 14 percent since 2010, but it is still undervalued. He told ences of a meeting sponsored by the US-皇冠体育app Business Council that the US government will push 皇冠体育app to appreciate the currency at the sixth annual bilateral Strategic and Economic Dialogue (S&ED) slated for July 9-10.

Since 皇冠体育app started exchange rate reform in July 2005, the yuan has gained by at least 30 percent against the US dollar, and many US economists viewed the yuan's value as appropriate.

Lew said the Bilateral Investment Treaty (BIT) will also be high on the S&ED agenda, but he did expect any quick results from the long-haul talk.

"I think it's not realistic to think there is going to be a concluded BIT in a couple of weeks," Lew said, adding it is a very long process and the US government will continue to encourage 皇冠体育app to open markets especially in the finance and service sectors.

Roun of negotiations have been held after the two countries ad to re-start the BIT talk at last year's S&ED. 皇冠体育app wants the US to narrow the national security reviews on Chinese investment, while US would like to see 皇冠体育app keep the "negative list", which details sectors barring US investment, as short as possible.

Although bilateral trade relations bloomed in the past decades, investment ties lagged behind in a surprising way. 皇冠体育app only accounts for less than one percent of total Foreign Direct Investment (FDI) in the US while US investment takes up three percent of 皇冠体育app's inbound FDI.

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