FOR IMMEDIATE RELEASE: CONTACT:
May 4, 2012 Jen Scungio, 202-457-8759
WASHINGTON, D.C. — Financial Services Forum President and CEO Rob Nichols released the following statement today on the conclusion of the 2012 U.S.-China Strategic & Economic Dialogue (S&ED) in Beijing:
“The Financial Services Forum welcomes the significant economic progress made toward opening China’s financial sector to participation by global financial services firms during this year’s round of the S&ED. The outcomes released by the Treasury Department today will help modernize China’s financial sector as well as level the playing field for U.S. businesses and consumers.
“A more modern and effective Chinese financial system is essential if China is to achieve its objective of shifting from a manufacturing-for-export economic model to the more sustainable growth path of a more services-based and consumer-driven economy – an objective very much in the interest of the United States. Access to China’s growing middle class and business sector now offers enormous opportunity to U.S. manufacturers, service providers and farmers. It additionally has clear implications for strong economic expansion and job creation in America.
“We look forward to working with the Administration to help achieve the 2012 S&ED’s outcomes and thank Treasury Secretary Timothy Geithner, Secretary of State Hillary Rodham Clinton, Vice Premier Wang Qishan, and State Councilor Dai Bingguo for their continued leadership during this important dialogue.”
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 20 of the largest and most diversified financial services institutions doing business in the United States. The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.
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Laena Fallon
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Phone: (202) 457-8783
Jen Scungio
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Phone: (202) 457-8759
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 19 of the largest and most diversified financial services institutions doing business in the United States.
The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.
