The Chinese government is inviting Wall Street's top bankers to a hastily arranged meeting in Beijing as US president Donald Trump threatens to impose punitive tariffs on all Chinese exports to the US worth an estimated $267 billion (€230 billion).

According to three people briefed on the initiative, Chinese Communist party officials have invited the heads of America's leading financial institutions to attend a "China-US Financial Roundtable" in Beijing on September 16th, followed by a meeting with Wang Qishan, vice-president of China.

Chinese officials hope the new group, which will be jointly chaired by Zhou Xiaochuan, a former Chinese central bank governor, and John Thornton, the former Goldman Sachs executive who now chairs mining group Barrick Gold, will meet every six months to discuss Sino-US relations and advise the Chinese government on financial and economic reforms.


People briefed on the planning for the China-US Financial Roundtable said it reflected the Chinese government's frustrations in dealing with Mr Trump, who has refused to designate a point person for China relations and has increasingly deferred to the hawkish views of Robert Lighthizer, the US trade representative.

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