Chinese Ambassador to the United States, Xie Feng, has called on the US government to ensure an equitable and non-discriminatory environment for Chinese financial institutions operating within its borders. Speaking at the New York Satellite Forum of the 2025 Financial Street Forum, Ambassador Xie highlighted the significant progress in financial cooperation between China and the US since the inception of China’s 14th Five-Year Plan (2021-2025). He noted that many US businesses have not only witnessed but also actively supported and benefited from these developments. Xie cited several milestones, including J.P. Morgan Securities becoming the first wholly foreign-owned securities company in China, American Express receiving approval for bank card clearing services, and BlackRock establishing the first wholly foreign-owned public equity mutual fund company. These achievements, he emphasized, underscore China’s commitment to opening its financial sector to American enterprises. Ambassador Xie urged the US to reciprocate by fostering a similarly open and fair environment for Chinese financial institutions. He stressed the importance of maintaining a stable and sustainable bilateral relationship, advocating for dialogue over confrontation, cooperation over decoupling, and stability over volatility. Xie expressed his hope that the US financial sector would continue to support the China-US relationship, contributing to its development and helping both nations navigate their interactions in the new era.
Envoy calls for fair treatment for Chinese financial institutions in US
