For over nine years, this bi-annual Track II dialogue has brought together leading American and Chinese economists, economic thinkers and business leaders for a day and a half of off-the-record discussions on important issues related to bilateral economic relations and the global economic system.

Participants in the dialogue engage in lively, sophisticated, and candid discussions that touch on a broad range of subjects, including the macroeconomic trends in China and the United States, each country’s reform initiatives, trade and investment relations, medium- to longer-term growth prospects, and collaborative pathways to build trust and improve U.S.-China economic relations.

At the conclusion of each session of this Track II dialogue, the expert participants pen a consensus agreement, laying out a set of principles and policies to which the two countries should adhere in managing their economic relations. The National Committee shares this document with relevant agencies and offices in both governments.

For every dialogue based in the United States, upon conclusion of the talks, the Chinese delegation travels to Washington, D.C., for a day of high-level meetings with American officials at the Department of State, the National Security Council, the Department of the Treasury, and the Department of Commerce, among others. These meetings are an opportunity for each side to discuss developments in economic conditions and policy directions in both countries, as well as government-to-government relations. 

The nineteenth round of the U.S.-China Track II Economic Dialogue was held in Beijing, July 10-12, 2019, in partnership with Peking University’s China Center for Economic Research. The American and Chinese delegations, composed of prominent economists and business leaders, were led by Ambassador Carla A. Hills, chair of the National Committee on U.S.-China Relations, and Dr. Qin Xiao, former chair of China Merchants Group. The two sides met amidst flux in the U.S.-China trade talks, focusing their candid discussions on the troubled cross-border trade and investment relationship; recent macroeconomic trends and circumstances in each country; the impact of increased tariffs and the economic costs of decoupling; technology competition and intellectual property issues; progress in China’s financial sector reform; and the risks and opportunities surrounding a near-term agreement between the two countries (or lack thereof). To foster further conversation, the American delegation also met with Governor Yi Gang of the People’s Bank of China as well as representatives from the China Securities Regulatory Commission and the China Center for International Economic Exchanges.

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