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2016 China-US Economic Dialogue is Held



14th China-US Economic Dialogue Members’ Group Photo

On June 13-14, 2016, the 14th China-US Economic Dialogue was co-hosted by Peking University National School and Development (China Center for Economic Research) and the National Committee on United States China Relations (NCUSCR) at the Beijing Kerry Center. Politicians, businesspeople and academics from both countries gathered to discuss issues including the Sino-US macroeconomic situation, domestic financial reforms and their political effects; bad loans in China’s banking industry as well as the role of market economics.

Attendees from the US included former US Trade Representative and Co- Chair of the NCUSCR,Carla Hill; chairman and CEO of C.V. Starr & Co., Inc., Maurice Greenberg; President of the National Committee on United States-China Relations, Stephen Orlins; former Chairman of Morgan Stanley Asia and Senior Fellow at Yale University, Steve Roach; Anthony M. Solomon Senior Fellow at the Peterson Institute for International Economics, Nicholas Lardy; University of California, San Diego Professer & Economist, Barry Naughton; New York University Stern School of Business Professor Kim Schoenholtz; Federal Reserve and US Council of Economic Advisers member, Jeffrey Shafer.

Attendees from China included former Chair of China Merchants Group, Mr. Qin Xiao(Chair of the Chinese delegation); Peking University National School of Development Dean Prof. Yao Yang & professors Lu Feng and Huang Yiping; Peking University International Relations Professor Zha Daojiong; China International Capital Corporation Ltd Chief Strategist Dr. Huang Haizhou; Guangda Securities Chief Economist Dr. Xu Gao UBS Wealth Management Managing Director & Greater China Chief Investment Officer, Dr. Hu Yifan; Renmin University School of Finance Professor & and Official Monetary and Financial Institutions Forum Deputy Chair Xiang Songzuo. Over the course of two days, both delegations discussed and exchanged ideas on the state of the US and Chinese economies and reached a consensus on the policies used by both countries. They shared their outlook on sino-US trade, discussed bad debt in the Chinese banking system, the place of China’s market economy and the effects and direction of China’s financial reforms.

On the morning of 15 June, both delegations engaged in talks with Ministry of Finance Vice Minister Mr. Zhu Guangyao, to better understand China’s current macroeconomic regulation and supply-side reforms. During the afternoon, Vice Premier of China Wang Yang received both delegations at central headquarters of the State Council, Zhongnanhai. Vice Premier Wang encouraged increased communication between US and Chinese think-tanks to promote Sino-US relations, to greater understand its effect on the global economy and medium-long term economic issues, to provide high-level policy recommendations to both governments and promote relations between US, China and new global powers.  

State Council Vice Premier Wang Yang receives the US and Chinese delegation at Zhongnanhai

Both delegations meeting with Finance Deputy Minister Zhu Guangyao

On the morning of 16 June, the US delegation was accompanied by National School of Development Dean Prof. Yao Yang during its visit to China’s Ministry of Commerce. MOFCOM Assistant Minister Tong Daochi and MOFCOM Spokesman Shen Danyang held a discussion on Sino-US trade. Afterwards, the delegation went to the People’s Bank of China to meet with Deputy Governor & Vice Chair of the Office of the Central Leading Group on Financial and Economic Affairs, Yi Gang. They discussed issues including the economic environment of China and the US, monetary policy and foreign exchange.

Delegation meets with People’s Bank of China Deputy Governor & Vice Chair of Office of the Central Leading Group on Financial and Economic Affairs, Yi Gang  
MOFCOM Assistant Minister Tong Daochi and MOFCOM Spokesman Shen Danyang hold discussion with delegation

The China-US Economic Dialogue began in January, 2010 and is held biannually in New York and Beijing. Its mission is promote engagement between Chinese and American academics and business leaders in Sino-US trade and in-depth discussion on the global economic situation. Results are reported to the relevant government departments in the US and China to aid in formulating government policy.