28. The two leaders acknowledged the importance of fostering open, fair, and transparent investment environments to their domestic economies and to the global economy and reaffirmed their commitment to the ongoing Bilateral Investment Treaty (BIT) negotiations, recognizing that a successful BIT negotiation would support an open global economy by facilitating and protecting investment, and enhancing transparency and predictability for investors of both countries. China welcomed the United States' commitment to consult through the JCCT in a cooperative manner to work towards China's Market Economy Status in an expeditious manner. China welcomed discussion between the two sides on the ongoing reform of the U.S. export control system, and its potential implications for U.S. exports to its major trading partners, including China, consistent with U.S. national security interests.
29. The two sides further acknowledged the deep and robust nature of the commercial relationship, including the contracts concluded at this visit, and welcomed the mutual economic benefits resulting from the relationship.
30. The two sides agreed to continue working to make concrete progress on the bilateral economic relationship through the upcoming S&ED and the JCCT process.
31. China and the United States recognized the potential for their firms to play a positive role in the infrastructure development in each country and agreed to strengthen cooperation in this area.
32. The two countries committed to deepen bilateral and multilateral cooperation on financial sector investment and regulation, and support open environments for investment in financial services and cross-border portfolio investment, consistent with prudential and national security requirements. The United States is committed to ensuring that the GSEs have sufficient capital and the ability to meet their financial obligations.
33. China and the United States agree that currencies in the SDR basket should only be those that are heavily used in international trade and financial transactions. In that regard, the United States supports China's efforts over time to promote inclusion of the RMB in the SDR basket.
34. The two countries pledged to work together to strengthen the global financial system and reform the international financial architecture. The two sides will continue their strong cooperation to strengthen the legitimacy and improve the effectiveness of the International Monetary Fund and Multilateral Development Banks (MDBs). The two sides will jointly promote efforts of the international community to assist developing countries, in particular the Least Developed Countries to achieve the Millennium Development Goals (MDGs). The two sides will also, in partnership with the Multilateral Development Banks, explore cooperation that supports global poverty reduction and development, and regional integration including in Africa, to contribute to inclusive and sustainable economic growth.
35. The two countries reiterated their support for the G-20 Framework for Strong, Sustainable and Balanced Growth and reaffirmed their commitments made in the Seoul Summit Declaration, including using the full range of policies to strengthen the global recovery and to reduce excessive imbalances and maintain current account imbalances at sustainable levels. The two sides support a bigger role for the G-20 in international economic and financial affairs, and pledged to strengthen communication and coordination to follow through on the commitments of the G-20 summits and push for positive outcomes at the Cannes Summit.
Cooperating on Climate Change, Energy and the Environment