WASHINGTON Jan 30 A U.S. business group called
on the United States and China on Wednesday to develop a
long-term plan to address trade and investment concerns and to
tackle cybersecurity threats that could undermine their
"Both governments should explore an economic liberalization
framework that would comprehensively address opportunities and
challenges in the relationship, rather than approach them
incrementally," the U.S.-China Business Council's board of
directors said in its 2013 policy recommendations.
"At a time of transition for both governments, there may be
an opportunity to develop a broader, long-term strategic vision
of the bilateral economic and commercial relationship," the
group said. It represents leading U.S. companies that invest or
do business in China.
U.S. President Barack Obama began his second term in January
and has been bringing new faces into his administration,
including Senator John Kerry who was confirmed as Secretary of
State on Tuesday.
Chinese Vice President Xi Jinping took over as head of the
country's Communist Party in November and will become China's
president in March. That is also creating change in key Chinese
The report's 28 recommendations include cracking down on
commercial espionage over the Internet, which has become a
growing concern for U.S companies.
"The U.S. and Chinese governments should pledge to stop
commercial-focused cyber intrusions and take active steps to
cooperate in curbing this activity," the group said.
The report also called for action to encourage Chinese
investment in the United States and to reduce foreign ownership
restrictions in China.
A Bilateral Investment Treaty "provides one of the best
opportunities to reduce investment barriers in both countries,"
the group said. "Both governments should seek to conclude a BIT
... as quickly as possible."
The group urged the U.S. Export-Import Bank to increase
financing support for U.S. exports to China.
In a nod to one of Beijing's longstanding priorities, the
report called on the Obama administration to continue reform of
U.S. export restrictions on high-technology projects, including
faster action on non-controversial items.
The group also recommended stronger Chinese action to
protect U.S. intellectual property rights and reform of Chinese
licensing requirements that are a major obstacle to U.S.
companies doing business in China.
(Reporting By Doug Palmer; Editing by Mohammad Zargham)