The sixth round of China-US Strategic and Economic Dialogue which is about to be held in Beijing will focus on bilateral investment treaties. ANBOUND research team points out that there are over stringent examination standards for US' direct investment to China, which has led to high imbalance of direct investment between the two countries. The most profound source for this imbalance is the Wassenaar Arrangement, with which is in effect, China will be not likely to dramatically open up its information and technological product market. Therefore, whether the China-US bilateral investment agreement can be reached, it will be rooted in the US’ policy adjustment of its technology export to China. China should enlist the abolishment of the Wassenaar Arrangement to the agenda of China-US Strategic and Economic Dialogue.