China will attempt to solve the trade tension with the US during 2019, the country’s commerce minister informed. This decision came after talking with US negotiators last week.
A US delegation conducted a three-day visit to Beijing to talk about the trade war, since China and the US agreed on a three-month truce in late 2018. Now, according to local media, the foundation has been laid for both countries to resolve mutual concerns on trade.
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What is more, commerce minister Zhong Shan said that China will attempt to advance outside investment by working on a foreign investment law and improving its dispute resolution system.
This is part of a plan, according to which China wants to establish a more open and free market. However, according to sources, officials have not taken enough action to meet this plan.
In addition, Mr. Zhong also mentioned that China will try to limit its list that restricts investment in certain industries and widen its economic sectors for foreign investment without the need for the presence of a Chinese joint-venture partner.
These reforms are something that the US was hoping to happen, as it wants China to open up areas for US investment.
