Contact: Jen Scungio, 202-457-8759

WASHINGTON, DC – Engage China, a coalition of 12 financial services trade associations united in support of high-level engagement with China with an emphasis on greater market access and continued financial sector reform in China, released the following statement on the confirmation of Commerce Secretary Gary Locke as Ambassador to China:

“Engage China applauds the confirmation of Secretary Gary Locke as U.S. Ambassador to China. The U.S.-China relationship is arguably the most important bilateral economic relationship in the world.  How this critical relationship is managed will determine the vitality of the U.S. and global economies in the 21st century.

“Engage China respectfully urges Ambassador Locke to push for greater market-opening reforms in China.  China’s growing middle class represents an enormous commercial opportunity for U.S. manufacturers, service providers, farmers, and ranchers.

“Additionally, greater participation by U.S. financial institutions in China’s financial sector will help China achieve its economic goal of building a more services-based, consumer-driven economy. By providing the financial products and services that China’s citizens and businesses need to save, invest, insure against risk, and consume at higher levels, U.S. financial institutions can help expand a vast new market for American-made products and services, contributing importantly to faster economic growth and job creation here in the Unites States.

“Through his service as Commerce Secretary and as a former Governor of the state of Washington, Ambassador Locke brings a deep understanding of the U.S.-China relationship and the full range of critical issues.

“Members of the Engage China Coalition congratulate Ambassador Locke, extend our best wishes, and look forward to working with him in his new role.”