Exchange Database

Chinese banking delegation visits Bay Area

A delegation of senior level Chinese government officials and banking executives started a week-long executive training program at the Stanford Graduate School of Business this week. This is part of the delegation's three-week visit to the US, which also include a few days in the San Francisco Bay Area and Sacramento to explore financial regulation and management at the state and local level and technological innovations in payments systems. Then they will travel to Washington, DC to meet with senior representatives at numerous government agencies and international organizations. The purpose of the group's visit is to educate Chinese government officials and financial regulators about the US financial system, institutions and regulations, with a focus on electronic payment system.
Outcomes: 
Trade between China and US is on the rise. As more and more Chinese enterprises look overseas and start embracing the challenges and opportunities of globalization, Chinese banks' overseas presence and operation has become an irresistible trend. In 2012, the Industrial and Commercial Bank of China (ICBC), completed its purchase of an 80-percent stake in the Bank of East Asia (BEA), the first time a Chinese financial institution has taken a controlling interest in a US bank. Xia Xiang, economic and commercial counselor of Chinese Consulate General said, "We are exploring the opportunities to set up a settlement center overseas in San Francisco."
Source: 

http://usa.chinadaily.com.cn/epaper/2014-07/18/content_17839283.htm

Government?: 
Yes
Type of Exchange: 
business
education/science
Partners: 
People's Bank of China
the China Banking and Regulatory Commission
the National Development and Reform Commission
the Ministry of Commerce
Participants (Types): 
bank executives and government officials
Number of Participants: 
15
Exchange Date: 
Friday, July 18, 2014 to Friday, July 25, 2014
Continuing: 
No
Level of Government: 
national
state/provincial
Location: 
San Francisco, Washington, DC, and Sacramento
*If you know more about this exchange, please contact us.

Contribute to Database

Please tell us about U.S.-China exchanges that are not yet included in the database.

Commission Report

Polls show Americans and Chinese are becoming less trustful of each other’s country. The Commission assesses the problem and offers recommendations to foster greater U.S.-China collaboration and understanding.

Sign up for our mailing list