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"China is a major factor in the international economy; no one can really imagine international growth that is sustained without Chinese economic growth," said Rice, who also has served as US national security advisor.

"China is evolving, and we are becoming better and smarter in the country. We inject talent and resources here, rooting in China and growing with Chinese partners," Lien said.

"By opening further to foreign investors, we are not just providing them with opportunities to enter the Chinese market. We are also providing opportunities for the financial sector to upgrade and to improve its quality on a level playing field," he said.

"By encouraging the establishment of creditor committees, our banking association guided private companies to correctly understand what a reasonable debt load is. Members of the creditors committees took concerted action to help private firms comb through their debt structure, dispose of idle assets, return to core business and deleverage," she said.

"China is tracking to become the world's largest cheese importer in the years ahead. It is critical that the US dairy industry take part in that growth," said Tom Vilsack, president and CEO of the US Dairy Export Council. "This decision by China will chip away at the tariff disadvantage US suppliers face in China and improve US competitiveness in a rapidly expanding market."