The Chinese government is pushing for a set of guiding principles for global investment to be adopted at the G20 summit in Hangzhou in September. Foreign Minister Wang Yi announced the goal as he laid out the agenda for the summit. With 100 days to go until the summit, Wang said Beijing’s other goals for the gathering included stepping up joint efforts against corruption and deepening reform of the International Monetary Fund (IMF). Wang said there were roughly 3,200 bilateral agreements on international investment and China would push for the G20 to define guiding principles for a global investment policy of its own. “This would be the world’s first multilateral investment framework,” Wang said. “Multilateral investment rules will not be realized at a stroke, but starting the process is significant in its own right,” Foreign Minister Wang Yi said.

China remains the top market for U.S. exporters and represents huge potential for future opportunities for U.S. businesses, according to the latest report from the U.S. Department of Commerce. The 19 Top Markets Report showed that China ranked highly among top U.S. export markets in sectors from automotive parts, civil nuclear, building materials, construction equipment to education, financial technology, manufacturing technology and franchising. In the country analysis for the aircraft industry, the report said China is expected to be the world’s largest single-country market for civil aircraft sales over the next 20 years. Boeing Co estimated that China will need to add more than 6,000 aircraft to its commercial fleet to meet traffic demand. In the building materials sector, the report said that although the Chinese economy is experiencing a slowdown, it is the world’s largest construction market and will continue to provide a strong opportunity for U.S. building-products exporters. The report also described civil nuclear sector growth in the next decade in China will ensure commercial opportunities for U.S. civil nuclear exporters. China was also the top market for U.S. education. In 2014-15, China sent 304,040 students to the U.S., up 10.8% from 2013-14. Chinese students make up 31% of all international students in the U.S., the China Daily reports.

China will carry out wide-ranging pricing inspections on drug firms, hospitals and procurement bodies from June 1 till the end of October, the National Development and Reform Commission (NDRC) said. Drug prices have become a hot issue for patients and politicians in China, forcing drug companies to rethink their pricing strategy. Britain’s GlaxoSmithKline (GSK) and AstraZenca, along with China’s Betta Pharmaceuticals, recently agreed to cut prices on specific drugs by as much as 67%. The Commission said the investigations would include drug makers, medical institutions, disease prevention and control centers, blood banks, drug bidding platforms, procurement bodies and industry associations. “The focus will be on abnormal price fluctuations of bulk medicines and various types of drugs,” the NDRC said. China is pursuing an ambitious program of health-care reforms to improve the public health system and to reduce its reliance on drugs from overseas.

German Lind Bakery’s Shanghai branch has been forced to change its signs because they infringed on Swiss chocolatier Lindt’s trademark, the Pudong New Area People’s Court said. It was earlier ordered by the court to change its signs and pay compensation of CNY120,000 to Lindt & Sprüngli, but it refused to do so. The court has forced the company to comply by freezing its bank accounts and barring the owner from leaving the country. The two companies used different Chinese names.

The Chinese government is concerned about the slow growth of private investment. Official figures show private investment rose only 5.2% in the first four months, in sharp contrast with a 23.5% rise from state-owned enterprises (SOEs). The central government has sent nine teams to 18 regions, including Guangdong, Zhejiang, Jiangsu and the northeastern provinces from May 20 to check on the implementation of policies to support private investment. President Xi Jinping toured the northeastern province of Heilongjiang while Premier Li Keqiang visited Hubei on fact-finding trips to expedite reforms in state-owned firms and revive regional growth. Executives at private firms mentioned several problems, such as market access restrictions, hurdles to obtaining bank loans, unfair competition from state rivals and tedious red tape. China’s leaders are preparing to hold a key policy meeting in the seaside resort of Beidaihe in Hebei province, the South China Morning Post reports.