Engage China News and Activities
Engage China Coalition Urges President Obama to Push for Continued Market Access Reforms, BIT Negotiation, During Beijing Trip, Meeting with President Xi
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
Senior Chinese and United States officials will meet next week in Chicago for a high-level forum to address bilateral trade and investment issues and promote business opportunities. The Chinese delegation to the 25th session of the China-US Joint Commission on Commerce and Trade from Dec 16 to 18 will be led by Vice-premier Wang Yang on the Chinese side. From the US side, the team will be led by Secretary of Commerce Penny Pritzker and US Trade Representative Michael Froman.
U.S. businesses are hoping for a pledge from American and Chinese officials at talks in Chicago next week to move ahead quickly on a planned investment pact between the two countries.
United States Trade Representative Michael Froman discusses trade's key role in the U.S. economy on CNBC's Squawk Box.