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U.S. Treasury Secretary Henry Paulson is urging China to open its financial markets to foreign competition, saying it would be in the country's best economic interest.
Speaking today (Thursday) at Tsinghua University in Beijing, Paulson said allowing more foreign investment in China's financial industries would make the country's economy healthier and improve investment returns for China's rising savings.
Paulson spoke a day after the United States and China announced they plan to hold top-level meetings on economic issues at least twice a year.
Officials say the agreement is designed to promote economic cooperation.
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