BEIJING (Reuters) - The United States and China have begun formal talks on exchanging investment treaty "negative lists", China's Ministry of Commerce said on Friday.
The move marked a new phase in the negotiation process on the Bilateral Investment Treaty between the world's two largest economies, the ministry said in a statement on its website.
Such negative lists will outline industry sectors that each side deems to be closed to the other side's investors, defining the scope of the treaty.
(Reporting by Michael Martina; Editing by Nick Macfie)
