Post Date: June 17, 2005

This weekend, leaders of the financial systems of the United States and China will gather in Armonk, New York to examine issues affecting the financial relationship between the two countries. The “Symposium on Building the Financial System of the 21st Century: An Agenda for China and the United States,” organized by HLS’s Program on International Financial Systems and the China Development Research Foundation, will allow participants from the U.S. and China to discuss financial challenges facing the two nations.

“The discussions are taking place at an important moment in the bilateral financial relationship between China and the U.S,” said Professor Hal S. Scott, director of PIFS. “The Symposium provides an objective forum for financial leaders from both countries to discuss financial market liberalization, corporate governance in China and the U.S., and to consider a new approach to the Bretton Woods system, particularly as it relates to exchange rates.”

“China is accelerating the reform of its financial system,” said Lu Mai, secretary-general of CDRF. “We hope to learn more from U.S. experiences in corporate governance, financial market liberalization and other significant financial issues. In this globalizing world, the mutual understanding on these issues, such as the foreign exchange regime, is quite significant to both of us, and the dialogue and mutual understanding between U.S. and China will be beneficial to both of us.”

The 90 attendees include senior government officials, political advisers, financial firm leaders, lawyers, consultants, scholars and representatives of the media from the U.S. and China. Speakers include:

The Harvard Law School Program on International Financial Systems was founded in 1986. It was established to conduct research integrating law, economics and finance. In its almost 20 years, the Program has published books, held symposia and provided policy advice to an array of countries.