From July 21 to 24, 2025, The U.S.-China Track II Economic Dialogue (the “Dialogue”) was successfully held in New York, the United States (U.S.). Serving as a communication platform for experts from the industry and academic circles of China and the U.S., the Dialogue focused on China-U.S. economic issues.
The Dialogue brought together top experts and representatives in the field of China-U.S. economy and finance. The Chinese delegation was jointly chaired by Professor YAO Yang, Dean of Dishui Lake Advanced Finance Institute, Shanghai University of Finance and Economics (SUFE-DAFI), Visiting Professor of Peking University and Professor CHENG Shijun, Executive Dean of Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University, Chair Professor of Accounting. The delegation members included: YIN Haitao, Executive Dean of the ESG Research Institute, Director of the International Affairs Office, Shanghai Jiao Tong University; YAN Hong, Academic Vice Dean of SAIF, Chair Professor of Finance, Shanghai Jiao Tong University; LI Feng, Vice Dean of SAIF, Chair Professor of Accounting, Shanghai Jiao Tong University; YU Xiaoyun, Chair Professor of Finance, SAIF, Shanghai Jiao Tong University; HUANG Haizhou, Distinguished Professor of SAIF, Shanghai Jiao Tong University, Member of the Monetary Policy Committee of the People’s Bank of China; ZHOU Ye, Founder, Chairman of the Board of Directors and CEO of HF Pay, Adjunct Professor of SAIF, Shanghai Jiao Tong University; HU Yifan, Vice President of the Hong Kong Institute of International Finance; and SUN Mingchun, Vice President of the Hong Kong Chinese Finance Association.
Members of the U.S. delegation included: Charlene Barshefsky, Former U.S. Trade Representative, President of the National Committee on U.S.-China Relations (NCUSCR); Stephen A. Orlins, President of NCUSCR; Carla A. Hills, Former U.S. Trade Representative, Chairman of the Board of Directors and CEO of Hills & Company International Consultants; Robert Dohner, Former Deputy Assistant Secretary of the U.S. Treasury for Asia, Senior Advisor at Mountain Pacific Group; Barry Naughton, Professor of Economics at the School of Global Policy and Strategy, University of California, San Diego, Director of the China Center for International Affairs; Johanna Chua, Managing Director of Citigroup; Daniel H. Rosen, Co-Founder and China Practice Leader of Rhodium Group; Jan van Eck, CEO of VanEck; Ernie Thrasher, CEO of Xcoal Energy & Resources; Joe Dillon, Senior Vice President of External Affairs at C.V. Starr & Co., Inc.; Mark M. Zandi, Chief Economist at Moody’s Analytics; Nicholas R. Lardy, Non-Resident Senior Fellow at the Peterson Institute for International Economics; Zongyuan Zoe Liu, Senior Fellow at the Council on Foreign Relations, among others.
The closed-door meetings held on July 21-22, 2025 combined keynote speeches with open discussions. Participants focused on three core topics, “Economic Outlook and Policy Prospects for 2025 and Beyond, The Future of China-U.S. Trade and Economic Relations, and The Future of China-U.S. Economic Coexistence, Its Challenges and Potential Areas of Cooperation”, to conduct in-depth exchanges of views and put forward constructive suggestions. In addition, these meetings discussed hot topics such as tariff policies, artificial intelligence, and stablecoins.
From July 23 to 24, 2025, the Chinese delegation visited institutions and companies based in New York, including VanEck, the Council on Foreign Relations (CFR), the National Association of Chinese Financial Professionals (NACFP), and the Asia Society. This delegation conducted in-depth exchanges and discussions with industry insiders on topics such as the China-U.S. economic situation and the challenges and opportunities in China-U.S. relations.
Launched in January 2010, the “U.S.-China Track II Economic Dialogue” is held twice a year, alternating between China and the U.S. It aims to explore core issues in China-U.S. economic and trade relations and their impact on the global economic pattern through long-term exchanges between leaders from the academic and business circles. The Dialogue provides reference for policy-making by both governments and creates favorable conditions for practical cooperation in the economic field between the two countries.
About NCUSCR
The National Committee on U.S.-China Relations (NCUSCR) is a non-profit, educational non-governmental organization that encourages understanding of China and the United States between citizens of both countries. Through long-term in-depth interactions with senior officials and influential figures from all walks of life in both countries, NCUSCR has become a unique force in advancing China-U.S. relations.
Since its establishment, NCUSCR has been committed to promoting rational discussions on China and China-U.S. relations in the U.S. society, with extensive information dissemination and public education as its core work. In 1972, NCUSCR successfully hosted the visit of the Chinese table tennis team to the U.S., establishing itself as a leading organization in the field of China-U.S. policy exchanges. Since the 1980s, NCUSCR has focused on fostering long-term and substantive exchanges between influential figures from China and the U.S. Today, as global and local interests become increasingly intertwined, the importance of maintaining unobstructed communication channels has become even more prominent.
Currently, NCUSCR has over 750 members, hailing from across the U.S., nearly 100 enterprises, and professional firms. They share a core consensus: a healthy and productive China-U.S. relationship is in the fundamental interests of both countries and the world.
