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The U.S. Department of the Treasury announced on Friday the launch of economic working groups with China to facilitate communication as relations between the two powers struggles.
China is expected to launch a state-backed investment fund providing more than $40 billion to the country's semiconductor manufacturing industry to counter the policies implemented by the United States to favor domestic manufacturers.
AMEC reaps a windfall from US tech export controls by increasing its share of domestic chip equipment market.
The two sides agree to make air travel easier but negative feelings and espionage concerns in industry circles will be hard to overcome, observers say.
A restructure of China's technology and science sector reflects imperfect progress on alleviating US restrictions on high-tech trade