Beijing: The United States and China have begun formal talks on exchanging investment treaty "negative lists", China`s Ministry of Commerce said on Friday.
The move marked a new phase in the negotiation process on the Bilateral Investment Treaty between the world`s two largest economies, the ministry said in a statement on its website.
Such negative lists will outline industry sectors that each side deems to be closed to the other side`s investors, defining the scope of the treaty.
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