Chinese Vice Premier Wang Qishan and US Treasury Secretary Tim Geithner participated in bilateral talks on Tuesday as trade friction between the two sides mounted, the Financial Times reported. The US Treasury Department said the annual meeting of the Joint Commission on Commerce and Trade discussed "efforts to promote strong, sustained and more balanced growth and reducing barriers to foreign trade and investment." The International Trade Commission, a US government agency, released a report on Monday warning that Chinese policies aimed at encouraging local innovation are "expected to make it difficult for foreign companies to compete on a level playing field in China." The report is the first of two commissioned by the US Senate intended to measure the impact of intellectual property rights infringement and innovation policies in China on the US economy. President Hu Jintao is scheduled to visit the US in January.
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