The China-European Union (EU) financial working group convened its inaugural meeting in Beijing on March 18 and 19, signaling a significant step towards enhanced financial cooperation between the two economies.
The meeting was attended by Pan Gongsheng, governor of the People’s Bank of China (PBOC), and Jorge Toledo, ambassador of the EU to China, along with senior officials and representatives from both sides. The gathering provided a platform for open dialogue on key financial issues affecting both China and Europe.
During the sessions, delegates introduced the macroeconomic and financial stability situations and financial regulatory frameworks of their respective regions. They engaged in in-depth discussions on regulatory requirements, capital market development, sustainable finance initiatives, cross-border data transfers, and cross-border payments.
The establishment of the financial working group stems from the consensus reached by leaders at the 10th China-EU High-level Economic and Trade Dialogue. Its primary aim is to strengthen exchanges and cooperation in finance, fostering a deeper understanding and collaboration between China and the EU.
Both parties expressed optimism about the role of the financial working group. They view it as an important communication channel for policy coordination, a key platform for addressing practical challenges, and a valuable forum for discussing global economic and financial issues.
This inaugural meeting marks a significant milestone in China-EU relations, paving the way for future cooperation that could have far-reaching impacts on global financial markets and economic stability.
Reference(s):
cgtn.com
