WASHINGTON, DC - Engage China, a coalition of ten financial services trade associations united in support of the goals of the U.S.-China Strategic Economic Dialogue (SED), today released the following statement on the results of the fourth U.S.-China SED:

"The fourth U.S.-China Strategic Economic Dialogue (SED) concludes today with a measure of progress in the area of financial services. While modest, the results demonstrate the value of the Strategic Economic Dialogue and underscore the need to continue such high level engagement in the future. Financial services is a catalyst for growth across all sectors and must continue to be a central focus of the conversation. While we are encouraged by today's announcement, there is still a great deal more to do. Continued engagement with China is the best way to remove the barriers that global securities firms, banks, insurance companies, futures commission merchants, brokers and asset managers face in China.

"Successful conclusion of the bilateral investment treaty negotiations announced today should give both U.S. and Chinese companies greater confidence, clarity, and protection when doing business in each other's countries. As talks begin on the bilateral investment treaty, it is important that progress on important issues such as market access for financial services firms and improved procedural and regulatory transparency continue. We also were pleased with regulatory changes that will pave the way for greater market access and ease restrictions on global financial services firms doing business in China."