US envoy sees China poised for another round of broad-based economic reform

The new United States ambassador to China, Max Baucus, said on Wednesday that advancing a bilateral investment treaty between the world's two largest economies will be his top priority.

"While we still have a lot of work to do for concluding the treaty, helping move it forward would be a top priority of mine. I am going to work very hard to make this bilateral investment treaty successful," Baucus said while addressing members of the American Chamber of Commerce in China, in his first public speech in the country.