New round of BIT talks with US begins
China and the United States began negotiating a bilateral investment treaty onWednesday, according to theMinistry of Commerce. “Both sides will try to advance the BIT negotiations with great effort and to speed up the process in hope of reaching a high-standard and mutually beneficial deal,” said a brief MOCstatement. The negotiations are being held in Qingdao, Shandong province. Chinese mainland and India moved up the rankings, according to the World Bank. Australia fell out of the top 10, dropping to 13th spot in the World Bank’s annual Doing Business report. It was replaced by Sweden, which had previously been ranked 11th. The US remained in seventh place and Japan slid five spots to 34th place. The Chinese mainland rose six spots to 84th, while India climbed 12 places to 130th out of 189 economies, includingHong Kong and Taiwan.