Consensus reached at Xi-Obama meeting

· China and the US announced an action plan on greenhouse gas emissions. China will aim to cap emissions by 2030, while the US will cut total emissions by more than a quarter by 2025.

· Defense departments of the two countries have signed agreements to establish a mutual reporting mechanism on major military operations and a code of safe conduct on naval and air military encounters between them.

· Both countries agreed to accelerate talks on a bilateral investment treaty. They will try to reach consensus on the core issues of the text by the end of this year and start the next phase of negotiations in 2015 over the negative list, which specifies bans and restrictions on types of foreign investment.