The financial services sector wants trade talks this week between the U.S. and China to lead to changes that allow American companies to buy larger stakes in Chinese banks, as well as sell retirement plans in the world's most populous nation.

Representatives from eight financial services trade groups said Tuesday that in addition to specific results, they want to elevate their industry's issues on the U.S.-China economic agenda, alongside more traditional concerns such as the impact of Chinese imports on U.S. manufacturing and China's currency policy.

"Our goal ... is to make financial services the centerpiece of the economic relationship between the U.S. and China going forward," said Steve Bartlett, chief executive of the Financial Services Roundtable. The roundtable's 100 members include the insurance provider American International Group Inc., Bank of America Corp. and Citigroup Inc.

U.S. Treasury Secretary Henry Paulson is leading a U.S. team of top officials from 11 Cabinet-level agencies and Federal Reserve Chairman Ben Bernanke in the May 22-23 talks, known as the Strategic Economic Dialogue.

China's Vice Premier Wu Yi is bringing 14 Cabinet-level ministers. The dialogue is intended to ease the trade tensions between the two countries that stems from the United States' trade deficit with China.

Donald L. Evans, chief executive of the Financial Services Forum, said China may announce that it will allow U.S. banks to own greater stakes in Chinese banks. That ownership level is currently capped at 25 percent. The forum's members include Goldman Sachs Group Inc., Wachovia Corp. and JPMorgan Chase & Co.

China could also promise to make it easier for U.S. banks and insurance companies to sell 401(k)-style retirement plans in China, said Brad Smith, an executive at the American Council of Life Insurers.

The groups are pushing for China to do more. Marc Racicot, president of the American Insurance Association, said China should eliminate the geographical restrictions that limit where foreign insurance companies can set up shop and take steps to make it easier to offer new products.

But the industry sees extensive opportunities in China if those barriers are removed. Approximately 480 million Chinese own cell phones, but only 1 million have a credit card, Evans said.

As a result, the industry favors continued dialogue over measures that would limit Chinese imports into the United States and chill trade relations. Legislation has been proposed in Congress, for example, that would make it easier to impose tariffs on Chinese goods.

"China's growth is America's opportunity," Evans said.