|FOR IMMEDIATE RELEASE:||CONTACT: CHRISTI HARLAN|
|Thursday, May 4, 2000||202-224-0894|
Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, has announced a full committee hearing on the China-WTO agreement and financial services.
"Congress will soon be voting to establish permanent normal trading relations with China, which will make China's entry into the World Trade Organization possible," Gramm said. "This historic vote will allow a continuation of our successful policy of promoting world trade as a path to prosperity and freedom by bringing China fully into the world trading system.
"Open financial markets are powerful engines for promoting prosperity and freedom in the world," Gramm said. "And, fortunately, access to the Chinese financial markets is one of the most significant achievements in our trade agreement with China."
China-WTO Agreement and Financial Services
9:00 a.m. Tuesday, May 9, 2000
Room 538 Dirksen Senate Building
The Honorable Lawrence Summers
Department of the Treasury
The Honorable Charlene Barshefsky
U.S. Trade Representative
Mr. Mark E. Lackritz
Securities Industry Association
Mr. Gary Benanav
Chairman and Chief Executive Officer
New York Life International
on behalf of the International Insurance Council
Mr. Robert P. Morrow III
Managing Director and Group Executive
International Corporate Banking Group
Bank of America Corporation
on behalf of the Financial Services Roundtable