“There is no specific time-frame for conclusion at this point”, U.S. Secretary of Commerce Penny Pritzker said when she talked with CCTV America’s Wang Guan on China-U.S.bilateral Investment Treaty.

Pritzker dampened hopes that there could be a deal signed during President Xi Jinping’s upcoming state visit to America. “It requires an enormous amount of effort to meet the kind of standards necessary for our two countries to enjoy such a treaty.” said Pritzker.

Secretary Pritzker underscored the importance of U.S.-China economic relationship, which, together accounts for 35 percent of the world’s GDP. Frictions such as U.S. high-tech export control regime, in her view, is insignificant in that “it only accounts for 0.4% U.S. export to China”.

The Commerce Secretary also discussed the Federal Reserve’s decision not to raise rates in September, and a series of issues concerning U.S.-China economic and investment ties.