The National Committee was pleased to join with the Economic Club of New York and the US-China Business Council in welcoming Chinese Premier Li Keqiang at a dinner on September 20, 2016, at the Waldorf Astoria in New York. Premier Li delivered a speech on economic issues to an audience of more than 600 business leaders and policy makers. In it, he addressed concerns over China’s openness to foreign investment and business, declaring that the areas of the Chinese economy open to foreign investment “will only increase, and China will open its door even wider. The door will not close.” He added, “Some sectors in the Chinese economy have not become mature ones,” but the process for them to become mature “is also a process for them to further open up.” China’s economy will continue its growth momentum for the remainder of the year, Li said, and agreement on a mutually beneficial U.S.-China Bilateral Investment Treaty would eventually be reached as long as both countries took a strong and pragmatic approach. Premier Li announced that the Bank of China’s New York branch has been designated the first clearing bank in the United States for handling renminbi transactions, and welcomed New York banks that meet the eligibility requirements to do so as well. He also promised to resume Chinese imports of U.S. beef soon (removing a ban that has been in place since 2003), arguing that the Chinese “recognize that the United States has very good beef, so why should we deny Chinese customers this choice?” Premier Li was accompanied by a delegation including Foreign Minister Wang Yi, National Development and Reform Commission Chair Xu Shaoshi, Finance Minister Lou Jiwei, Commerce Minister Gao Hucheng, and People's Bank of China Governor Zhou Xiaochuan, among others. The dinner also featured remarks from NCUSCR Chair Carla A. Hills, Vice Chair Henry A. Kissinger, Director Barbara H. Franklin (representing the US-China Business Council), and Terry J. Lundgren, chair of the Economic Club of New York and chair and CEO of Macy's, Inc. This event continues a National Committee tradition of welcoming every senior Chinese leader to the United States since Deng Xiaoping’s historic visit in 1979.

• published: 14 Nov 2016
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