US, China agree to investment treaty talks
Updated
The United States and China have wound up their bi-annual strategic dialogue with an agreement to begin negotiations towards an investment treaty.
The cabinet-level talks also concluded with the signing of a 10-year accord on energy and environmental cooperation.
Asia Pacific analyst with Moodies Economy.com, Sherman Chan, says the investment treaty has few details, and an agreement is still a long way off.
"China doesn't need the financial services from the US," he said.
"They're taking a gradual approach in learning to develop their financial sector and there's no really urgent need for them to open up."
