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What common understanding has China and the United States reached?

One month after the meeting between the heads of state of China and the United States, the two sides reached ten major consensuses on issues in the fields of agricultural trade, financial services, investment and energy.

1. Beef import: China will allow the import of U.S. beef as soon as possible and in compliance with the 1999 Sino-U.S. Agricultural Cooperation Agreement under conditions consistent with international food safety and animal health standards. No later than July 16, 2017.

2. Export of cooked poultry meat: China and the United States will resolve the outstanding issues of exporting China’s self-produced cooked poultry meat to the United States as soon as possible and realize the export of Chinese poultry meat to the United States as soon as possible.

3. Biotechnology: China’s National Agricultural Genetically Modified Organism Safety Committee will conduct a scientific review of eight biotechnology product applications submitted by the United States on the safety of their intended uses.

4. Natural gas: The United States welcomes China and other U.S. trading partners to import liquefied natural gas from the United States. The United States will treat China no less favorably than other non-FTA trading partners.

5. Credit rating services: China will allow wholly foreign-owned financial services companies in China to provide credit rating services before July 16, 2017, and begin the process of applying for credit reporting licenses.

6. Cross-border settlement: The U.S. Commodity Futures Commission plans to extend the no-action exemption to Shanghai Clearing House for 6 months before July 16, 2017, if it is suitable and meets the conditions for no-action exemption, and The exemption period can be further extended to a total maximum of 3 years.

7. Electronic payment services: China will further promulgate necessary service guidelines before July 16, 2017, allowing U.S. wholly-owned electronic payment service providers to apply for licenses to achieve comprehensive and timely market access. enter. China will continue to allow Chinese banks to issue dual-standard, dual-currency bank cards that allow U.S. electronic payment service providers to process foreign currency bank card transactions.

8. Banking industry: Relevant U.S. federal regulatory agencies continue to commit to applying the same bank prudential supervision standards to Chinese banking institutions as they do to other foreign banking institutions in accordance with U.S. laws under similar circumstances.

9. Securities settlement: China will issue China inter-bank bond market underwriting licenses and settlement agent business qualifications to two qualified financial institutions in the United States before July 16, 2017.

10. One Belt, One Road: The United States will send representatives to participate in the “Belt and Road” International Cooperation Summit Forum.