Remarks by Deputy Assistant Secretary for International Financial Markets Nicholas Tabor on Recent Developments in U.S.-China Financial Regulatory Engagement, in Cambridge, Massachusetts June 6, 2024

Thank you very much to Harvard Law School, the Program on International Financial Systems, the China Development Research Foundation, and Professor Hal Scott for inviting me to speak. I’m honored to join this week’s symposium. My remarks will focus on one element of the evolving U.S.-China relationship, the Financial Working Group co-chaired by the U.S. Treasury and People’s Bank of China, and the important progress that group has made in the last year. But first, I will provide some background on the nearly two-year-long efforts towards improving bilateral communication and engagement on U.S.-China economic and financial issues. BackgroundWhen President Biden met President Xi in Bali in November 2022, he emphasized that the US and China must manage our competition responsibly and that such competition should not veer into conflict.