U.S. Treasury Secretary Jacob Lew Presses Beijing Over Tech Curbs

MarketWatch Pulse

U.S. Treasury Secretary Jacob Lew said Monday that he has pushed China to remove bars on technology transfers in a meeting with China's vice-premier Wang Yang, according to Reuters and other media reports. "Promoting innovation and open markets is in our mutual interest," Lew said before the meeting with Wang in Beijing on Monday. "We have already made clear our concerns regarding forced technology transfer and other attempts to bar technological competition, most recently in the banking sector, and I look forward to further discussion today." Lew is expected to push Beijing to more openness on a market-determined exchange-rate policy as well. Lew is later on Monday due to meet China's No. 2 leader, Premier Li Keqiang.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below