摘要
Since the normalization of relations between the People’s Republic of China (PRC) and the United States in 1979, the two governments have conducted a number of bilateral negotiations aimed at establishing closer economic ties and greater mutual understanding. These negotiations have yielded several trade and investment-related agreements including a bilateral trade agreement, several bilateral income tax agreements, and a bilateral investment guarantee agreement. However, after five years of intermittent negotiations, the two sides have yet to come to terms on a bilateral investment treaty (BIT).