Working Group Meets in Washington, D.C. at the U.S. Chamber of Commerce
May 16, 2016
The U.S. Chamber of Commerce hosted the fourth meeting of the Working Group on U.S. RMB Trading and Clearing in Washington, D.C. on April 26, 2016. The meeting took place alongside the U.S. Chamber of Commerce’s and the American Chamber of Commerce in China’s 7th Annual China Business Conference.
Vice-Chair Mary Schapiro opened the meeting and provided feedback from recent meetings in China with Chinese government representatives and several financial institutions regarding the Working Group and its activities.
Tom Quaadman, Senior Vice President of the U.S. Chamber Center for Capital Markets Competitiveness, introduced the newly formed CFO Advisory Council (“Council”). The Council will serve as a forum for CFOs and Treasurers of publicly and privately held companies representing asset managers, multi-nationals, and the small/middle market to discuss opportunities and challenges related to conducting business in China. Mr. Quaadman facilitated a discussion between Council and Working Group members.
Chair Michael R. Bloomberg provided remarks and introduced Nathan Sheets, Under Secretary for International Affairs at the U.S. Department of the Treasury. Under Secretary Sheets welcomed the work and views of the Working Group, and shared perspectives on China’s economy, the role of the U.S. dollar in the international monetary system, and RMB internationalization.