This is an excerpt from Obama’s remarks yesterday at the APEC CEO Summit in Beijing. Did he just make his first move towards governing on immigration through executive action?
And the trade and investment relationship we have benefits both of our countries. China is our fastest growing export market. Chinese direct investment in the United States has risen six-fold over the past five years. Chinese firms directly employ a rapidly growing number of Americans. And all these things mean jobs for the American people; and deepening these ties will mean more jobs and opportunity for both of our peoples.
And that’s why I’m very pleased to announce that during my visit the United States and China have agreed to implement a new arrangement for visas that will benefit everyone from students, to tourists, to businesses large and small. Under the current arrangement, visas between our two countries last for only one year. Under the new arrangement, student and exchange visas will be extended to five years; business and tourist visas will be extended to 10 years. (Applause.)
