Working Group Releases Initial Observations and Meets in New York
April 14, 2016
The third meeting of the Working Group on U.S. RMB Trading and Clearing took place on April 7, 2016, and was held at Bloomberg L.P. headquarters in New York City. Chair Michael R. Bloomberg opened the meeting, followed by a brief introduction of the Working Group’s initial observations and comments from the three Co-Chairs.
Co-Chairs Timothy F. Geithner and Henry M. Paulson, Jr. discussed the U.S.-China relationship and the benefits of increased RMB activity in the United States, while Co-Chair Thomas J. Donohue shared feedback from the business community.
Those present also heard updates from the Regulatory Considerations, Business Community Outreach, Operating Model Options, and RMB Products and Services subcommittees.
Following the meeting, the Working Group issued a statement from the Chair and Co-Chairs, stressing the importance of maintaining a healthy commercial and financial relationship with China. The Working Group will meet again on April 26, 2016, just prior to the China Business Conference hosted by the U.S. Chamber of Commerce and the American Chamber of Commerce in China on April 26-27, 2016.