China, U.S. pin high hopes on Xi's visit for breakthrough in BIT talks

Pushing for earlier completion of their marathon talks on a Bilateral Investment Treaty (BIT), both China and the United States have placed high hopes on President Xi Jinping's Sept. 22-25state visit for a breakthrough. But, as stumbling blocks in the way are not easy to remove, painstaking efforts from the world's first and second largest economies are demanded to conclude the BIT talks at an earlier date, so as to benefit both countries and the global economy. "A high-standard BIT, with strong provisions for market openings and equal treatment, would greatly benefit the commercial relationship," said U.S.-China Business Council President John Frisbie.