Joe Biden’s pick for Securities and Exchange Commission Chairman headlined at the American Chamber of Commerce in China’s 2016 Beijing-based business conference.
Gary Gensler, who will lead the stock market and securities oversight body, delivered the keynote at the group’s 2016 Asia Pacific Council of American Chambers of Commerce (APCAC) Business Conference.
“The theme of this year’s conference addresses China’s shift toward a new stage of economic development. Discussion topics will cover the wide range of challenges and opportunities that are affecting US business in Asia, the future of Asia as a financial hub, China’s regional engagement, the “One Belt, One Road” initiative and the regional trading environment,” an event press release from the American Chamber of Commerce in China (AmCham China) notes.
Among other speakers at the AmCham China conference were Chinese Communist Party officials including the Ministry of Commerce’s Trade Representative, Vice Mayor of the city of Fuzhou, and high-level leadership from state-run universities, think tanks, and media outlets. American counterparts included a who’s who of corporates keen on securing access to Chinese markets including PepsiCo and Kamala Harris’s husband’s firm DLA Piper.
“As in previous years, this conference will offer the region’s businesspeople a valuable opportunity to gather with peers and government officials. The conference will be a deep-dive into more China-specific issues including leveraging corporate and government relations, China’s economic outlook and the 13th Five-Year Plan,” the summary continues.
Panels at the conference included advising firms on “public-private partnerships between leading US companies and the Chinese government.”
Former Ambassador to China Max Baucus – who leveraged the credential to consult for Chinese government-linked firms – also delivered an “off the record” keynote “shedding light on the environment and opportunities for US Businesses operating throughout the Asia Pacific.”
Gensler spoke at a luncheon session entitled “China and the Global Economy: Slowing Growth, Increased Volatility and Implications for American Business.”
AmCham China functions as a pro-Chinese Communist Party lobbying group, whose leadership is comprised of American companies – investment banking firms, law firms, technology companies, and more – keen on securing market access and outsourcing American jobs to the country.
AmCham liaises between the Chinese Communist Party and its American members to bolster ties:
“As a primary pillar in our pursuit of improving the business environment and helping American companies succeed in China, AmCham China’s advocacy efforts address a wide scope of industry needs and extend from the central government to the local municipality levels. AmCham China advocates on behalf of our members’ evolving needs in the ever-changing China business landscape through a host of central and subnational government engagement efforts, large events such as the Annual Appreciation Dinner, and ongoing policy analysis and recommendations.”
Concerning Huawei, the group’s chairman has praised the company, which has collaborated with the Chinese Communist Party military for over two decades and was labeled a “national security threat” by the Trump administration, as “a very successful, very advanced company.” The praise came in an exclusive interview AmCham China Chairman Tim Stratford provided to state-run outlet Global Times for an article arguing for “negotiations” as opposed to bans on the company.
Gensler, also the Chairman of the Commodity Futures Trading Commission under President Barack Obama and Chief Financial Officer of Hillary Clinton’s 2016 campaign, led Biden’s Federal Reserve, Banking and Securities Regulators Transition Team efforts.