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October 2015

President Xi’s Visit
to U.S. Opens Doors
to a Bright U.S.
China Future

White House Releases FACT SHEET
on Joint Achievements

improving international economic architecture and continue to improve the IMF’s quota and governance
to meet challenges now and in the future. In light structure.
of China’s increased share of global economic
activity and increased capacity, the United • The United States and China commit to development finance
States welcomes China playing a more active cooperation in a third country through the multilateral
role in and taking on due responsibility for the development banks, respecting the ownership of the recipient
international financial architecture, as well as countries.
expanded bilateral cooperation to address global
economic challenges. To this end: • The United States welcomes China’s commitment to release
economic data following the IMF’s Special Data Dissemination
• The United States and China commit to Standards (SDDS) by the end of the year and welcomes China’s
strengthening and modernizing the multilateral continued efforts to enhance transparency. China recognizes the
development financing system. Both countries importance to successful RMB internationalization of meeting
resolve to further strengthen the World Bank, the transparency standards of other major reserve currencies.
Asian Development Bank, African Development The United States supports China’s commitment to implement
Bank, and Inter-American Development Bank further financial and capital market reforms, and accordingly
by enhancing their financial capacity, reforming the United States reiterates its support for the inclusion of the
their governance, and improving their effectiveness and RMB in the SDR basket provided the currency meets the IMF’s
efficiency. Consistent with its development, in addition to being existing criteria in its SDR review. Both countries commit to
a shareholder and borrower, China intends to meaningfully respect the IMF’s procedures and process in the SDR review, and
increase its role as a donor in all these institutions. to enhance their communication on this issue.

• The United States and China reaffirm the importance of the • The United States and China look forward to continuing to
MDBs in meeting the needs of the poorest countries through discuss mechanisms to facilitate renminbi trading and clearing
robust financial contributions to the International Development in the United States.
Association, Asian Development Fund, and African Development
Fund. China is to meaningfully increase its contributions to the • The United States and China welcome the important progress
MDB concessional windows, consistent with its capacity. that has been made in the negotiation of new international
guidelines on officially supported export credits since the
• The United States and China commit to strengthen their establishment of the International Working Group on Export
cooperation in the International Monetary Fund (IMF), Credits (IWG) through a joint high level commitment in 2012.

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