Treasury Secretary Henry M. Paulson, Jr. was the keynote speaker at the annual gala of the National Committee on U.S.-China Relations on October 21 in New York. Secretary Paulson, who was honored at the event along with Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext, spoke on the global economy and financial markets, economic relations with China and the U.S.-China Strategic Economic Dialogue (SED).

“In the midst of the most serious financial crisis in more than a half century, and with the presidential election exactly two weeks away, Secretary Paulson’s address comes at a time when global economic issues are touching the lives of every American and U.S.-China ties are more important than ever,” said Stephen A. Orlins, president of the National Committee on U.S.-China Relations. “We are pleased to honor the accomplishments of Secretary Paulson and Mr. Niederauer, and to recognize the contribution their work has made towards strengthening the Sino-American relationship.”

Henry M. Paulson, Jr. became Secretary of the U.S. Treasury in July 2006 and has served as the leader of the U.S. delegation to the U.S.-China Strategic Economic Dialogue (SED) since its inception in 2006. The SED has initiated work on central policy issues that include investment, energy and environmental cooperation, and food and product safety. Secretary Paulson has traveled to China more than 60 times over the course of his public service and private sector careers.

Duncan L. Niederauer joined NYSE Euronext in April 2007. Under his leadership, NYSE Euronext became the first non-Chinese exchange to open a Representative Office in Beijing and increased its number of listed companies from Greater China to 57, representing a market capitalization of more than $1 trillion.

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2007 Gala

The National Committee and 400 guests at its 2007 Gala Dinner saluted the contributions of two business leaders for their support of productive U.S.-China relations.

The event, held on the evening of October 24 in New York City, honored Michael T. Duke, vice chairman of Wal-Mart Stores, Inc., and Peter G. Peterson, co-founder and senior chairman of The Blackstone Group L.P. As vice chairman of Wal-Mart, Mike Duke has helped expand the range of affordable choices available to Chinese consumers. Pete Peterson, a giant in the field of finance, and his colleagues negotiated a groundbreaking investment by China’s central bank into The Blackstone Group. The work of these honorees’ demonstrates the benefits that flow to both sides of the Pacific through improved U.S.-China relations and increasing business and financial bonds.

Deputy Secretary of State John D. Negroponte was the evening’s keynote speaker. In his remarks, he identified five major challenges that will require Sino-American cooperation now and in the generation to come: combating terrorism; weak, poorly governed and failing states; ensuring continued global economic prosperity; enforcement of non-proliferation norms; and the combined challenge of energy security, economic growth and climate change. He said the administration actively invites China “to play a larger role on the international stage to ensure stability and prosperity long into the future by confronting global challenges together.”

Elegantly beautiful calligraphy was presented to both honorees. The works of art were gifts from Zhuang Zedong, China’s most famous ping pong player and a talented artist. Mr. Zhuang was the leader of the 1972 team that made history by coming to the United States for a month-long tour, sponsored by the National Committee and U.S. Table Tennis Association.

The Gala is an important source of unrestricted support for Committee programs. For the third consecutive year, the Gala raised more than $1 million, thanks to the generous support of nearly 50 companies and dozens of individuals. The National Committee gratefully acknowledges their contributions. *