By nopporn @ Shutterstock.com
China wants to know what Wall Street thinks it should do to foster better ties with U.S. business. The country’s leaders sent invitations to Wall Street firms to join a summit chaired by former governor of the People’s Bank of China Zhou Xiaochuan, and ex-president of Goldman Sachs, John Thornton. The summit is set to look at specific solution, not merely boilerplate platitudes about “working together.” Reuters reports:
Attendees will also meet with Chinese vice-president Wang Qishan on Monday morning after the full-day Sunday session, according to an invitation reviewed by Reuters.
Zhou and Thornton have asked participants to give one or two specific ideas on how to further open up China’s financial sector as well as suggest ways to “forge normal U.S.-China relations for the benefit of our two countries and the world,” according to the people and a meeting agenda seen by Reuters.
The people, who have knowledge of the meeting, declined to be named as the roundtable details were not public.
The meeting ideas should be accompanied by specific action points, said one source who was briefed on the agenda.
“They don’t want something feel-good. It’s got to be specific actionable areas where reform and opening markets is needed,” said one of the sources.
Chinese government officials will aim to reassure the U.S. financial firms that Beijing is genuinely receptive to their ideas, the source added.
Read more here.
