CHINESE President Jiang Zemin has agreed to a working summit with United States counterpart Bill Clinton in New York this month, giving up his insistence on a full-blown state visit to Washington. Before leaving for London yesterday, Vice-Premier and Foreign Minister Qian Qichen said 'a summit meeting in New York will do'. But he accused the US of lacking 'political will' to receive Mr Jiang with full state honours. Beijing's insistence on a state visit, which comes with a 21-gun salute and lavish banquets, had snagged preparations for the meeting. Mr Qian indicated that Beijing wanted to complete an agreement with Washington over the Taiwan issue as it is not satisfied with mere US reassurances on a 'one China' policy. 'The Chinese side accepted a US invitation to President Jiang to visit Washington, but the US side seemed to be having difficulties in arranging the trip as a 'state visit',' Xinhua (the New China News Agency) yesterday quoted Mr Qian as saying. 'These difficulties have resulted from neither technical problems nor a lack of time for preparations. In fact, it is a question of whether or not there is a political will. 'For the Chinese side there are no difficulties. And if the US side does have difficulties, a summit meeting in New York will do. This is what we have in mind.' Mr Qian's meeting with US Secretary of State Warren Christopher on Wednesday failed to reach agreement for a summit between the leaders when they attend the special commemoration of the 50th anniversary of the United Nations later this month. It is understood the Chinese side preferred a full state visit because of the benefits this would bring to Mr Jiang's standing in domestic Chinese politics. However, Mr Clinton has been subject to pressure from Congress and public opinion that Mr Jiang should not be accorded the highest honours because of China's alleged violations in human rights and nuclear non-proliferation. It is not known if Beijing was attaching conditions in exchange for its willingness to settle for a 'working meeting'. Chinese Vice-Foreign Minister Li Zhaoxing and US Undersecretary of State Peter Tarnoff are to finalise details of the meeting which will likely tackle issues including Taiwan, arms proliferation, regional security and human rights. Yesterday Mr Qian said reassurances from the US on the 'one China' policy and the restriction of future visits by Taiwan's President Lee Teng-hui were not enough to put China at peace on the continuing question of Taiwan. 'China appreciates such commitments, which are regarded as headway in preventing the recurrence of Lee's visit, but no agreement on the matter was completed,' Mr Qian said. 'We do not think this is enough because a complete agreement on the matter has not been reached. We hope that there will be no recurrence of such a thing, to which the US side is very clear,' he said. The US also promised to prohibit political speeches. 'These strict restrictions, put forward by the US side in a serious manner, indicated its deep understanding of the importance and sensitivity of the matter,' Mr Qian said. He also slammed the idea that Taiwan's participation in the UN should be solved through consultations between people on both sides of the Taiwan Strait. But Taiwan businessmen were assured that their investments in China would not be affected by strained cross-strait relations.