Engage China News and Activities

The Engage China Coalition submitted a letter today to President Barack Obama that strongly encourages him to push for a more open market and level playing field for foreign participants in China’s financial services marketplace during his meeting with Chinese President Xi Jinping and trip to Beijing on November 10-12. The letter further outlines U.S. financial services priorities to achieve financial reforms in China, including the negotiation of a high-standard U.S.-China Bilateral Investment Treaty (BIT), and calls on President Obama to raise the mounting urgency of addressing threats to cybersecurity with President Xi.
"In anticipation of your upcoming November 10-12 trip to Beijing and meeting with Chinese President Xi Jinping, we write to call your attention to the critical importance of accelerated reform and modernization of China's financial system, including a level playing field for foreign participants in China’s financial services marketplace. Additionally, we ask you to raise with President Xi the mounting urgency of addressing threats to cybersecurity."
“We are encouraged by U.S. and Chinese officials’ intensified commitment toward the completion of a bilateral investment treaty (BIT) between the two nations as it, along with other Chinese market-opening financial reforms, is in the interest of both countries and will yield significant benefits for both the Chinese people and for the American economy.

In the News

President Barack Obama will focus on the global economy and U.S. policy toward the Asia-Pacific region during stops next week in China, Myanmar and Australia.
China’s pledge to let the market play a decisive role in the economy is compelling, but there’s been little progress so far in turning this goal into reality, according to a U.S.-based business group.   [...]
BEIJING—Chinese leaders are discussing replacing the central bank chief amid disagreements over the direction of financial policy, raising questions over how quickly and deeply Beijing wants to remake the economy amid slowing growth.