S&ED Yields Commitments From China On Banking Regulations, Currency

China committed at this week's annual Strategic & Economic Dialogue (S&ED) that it will not use new regulations to discriminate against foreign companies that wish to sell information technology equipment to Chinese banks, and that it will only intervene in foreign currency markets when necessary because of "disorderly" market conditions. Treasury Secretary Jack Lew at the S&ED's closing session on Wednesday evening (June 24) in Washington highlighted the Chinese commitments on banking sector regulations and currency as the other two...