“We also welcome banks in New York that meet the requirements to become a clearing bank for renminbi [another name of Yuan]. I’m sure that will further boost our cooperation,” Li said at a business dinner in the Economic Club of New York on Tuesday.
“As our business sectors mature, we will gradually advance its opening-up and widen the access to more sectors for foreign investors,” Li said.
He also said that China would not devalue its currency to boost export.
Li added that China and the United States would reach a high standard and mutually beneficial bilateral investment treaty (BIT) that is being negotiated since 2008 if both sides held a pragmatic and flexible attitude.