•HRES 552 EH 
Whereas foreign entities are not permitted to invest in Chi-
nese A-share securities markets except through an oner-
ous licensing and quota system for ‘‘qualified foreign in-
stitutional investors,’’ and Chinese institutional investors 
are also restricted in investing in foreign securities mar-
kets except through a licensing and quota system for 
‘‘qualified domestic institutional investors’’; 
Whereas the government of China has failed to meet its 
World Trade Organization commitment on licensing of 
foreign broker-dealers and maintains discriminatory re-
strictions on the scope of business of foreign securities 
firms; 
Whereas the government of China maintains discriminatory 
standards for foreign banks in terms of capital require-
ments, restrictions on corporate operational form, and re-
strictions on bank branches, and has been slow to act on 
foreign banks’ applications; 
Whereas the government of China has approved no new en-
terprise annuities licenses for United States or other for-
eign firms since 2005 and maintains a cumbersome 
multi-agency process for approval of licenses; 
Whereas the government of China maintains discriminatory 
practices for branch applications from foreign-invested 
life insurers, granting branch approvals slowly and con-
secutively, while domestic insurers receive concurrent ap-
provals to open multiple branches; 
Whereas major Chinese financial institutions have sought li-
censes to operate in the United States on the grounds 
that Chinese financial regulators satisfy consolidated su-
pervision standards, at the same time the Chinese gov-
ernment restricts access to United States and other for-
•HRES 552 EH 
eign firms on grounds that suggest that Chinese regu-
lators may not satisfy these standards; and 
Whereas the Secretary of the Treasury has initiated the Stra-
tegic Economic Dialogue as a forum in which to engage 
Chinese officials on economic reform issues, including fi-
nancial market issues: Now, therefore, be it 
Resolved, That it is the sense of the House of Represent-
atives that— 
(1) the Government of the People’s Republic of 
China should immediately implement all of its World 
Trade Organization commitments to date in financial 
services; 
(2) the Government of the People’s Republic of 
China should immediately implement all of its commit-
ments to date made under the auspices of the Strategic 
Economic Dialogue initiated by the Secretary of the 
Treasury; 
(3) the goals of the United States for the next 
meeting of the Strategic Economic Dialogue should be to 
achieve Chinese commitments toward— 
(A) removal of all foreign investment owner-
ship caps on banking, life insurance, asset manage-
ment, and securities; 
(B) nondiscriminatory treatment of United 
States financial services firms (including banking, 
insurer, insurance intermediary, asset management,
•HRES 552 EH 
and securities firms) with regard to licensing, cor-
porate form, and permitted products and services; 
and 
(C) nondiscriminatory treatment of United 
States financial services firms with regard to regu-
lation and supervision; and 
(4) United States financial service regulators, in as-
sessing whether applications from Chinese financial in-
stitutions meet comprehensive consolidated supervision 
standards, should consider whether the applications are 
for operations and activities in the United States that 
are currently prohibited for United States financial insti-
tutions in China, and the extent to which such prohibi-
tions reflect problems with the quality of home country 
supervision. 
Attest: 
Clerk.