Wall Street veterans are taking US-China relations into their own hands

As US-China relations remain hostile, Chinese officials and Wall Street veterans are preparing to take matters into their own hands

The relationship between China and the US remains at an all-time low. However, a group of Chinese government officials and Wall Street veterans are preparing to revive talks themsleves.

This group of American Wall Street investors assembled back in 2018, with plans to work separately from the Biden administration to gain greater access to the world’s largest economy.

The talks were put on hold late last year as Covid-19 spread around the world

The discussions will feature high-level finance experts as well as senior Chinese regulatory officials.

Both the US and China are struggling with ongoing standoffs on issues including market access, data security and international stock listings.

It follows Beijing’s recent crackdown on a number of major tech companies, with the US business community wanting further clarity on China’s positions.

Wall Street is also scrambling to tap into one of the biggest foreign finance opportunities after China scrapped foreign ownership limits in April last year.

This allows companies to run their own money-management units and investment-banking operations, with trillions of dollars up for grabs.