China pushing for global investment guidelines
May 30, 2016 Category Foreign investment, Weekly
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.
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