U.S. Treasury Secretary Jack Lew has met with Chinese Premier Li Keqiang in Beijing.

Premier Li said that both the US and China need an open and liberal trade environment. He said he hopes that the US can relax controls on high-tech exports to China and to help solve the problems Chinese companies face when investing in the US. Li also mentioned that the two countries will soon begin to negotiate on a negative list for a bilateral investment deal.

Jack Lew said he looks forward to making progress on the bilateral investment deal and is willing to enhance cooperation in many areas.

Lew's visit took place on the deadline for countries to apply to become a founding member of the China-led Asian Infrastructure Investment Bank.

The two sides also discussed Chinese President Xi Jinping's coming visit to the United States this autumn.