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China-U.S. financial working group holds third meeting

CGTN

 , Updated 10:10, 20-Jan-2024

The China-U.S. financial working group held its third meeting in Beijing on Thursday and Friday, according to a statement from the People's Bank of China.

The meeting was co-chaired by Deputy Governor Xuan Changneng of the People's Bank of China and Assistant Secretary Neiman of the U.S. Department of Treasury, with relevant financial regulators participating, including Ministry of Finance, National Financial Regulatory Administration, China Securities Regulatory Commission, State Administration of Foreign Exchange from the Chinese side, and the Federal Reserve, the Securities and Exchange Commission from the U.S. side.

Governor Pan Gongsheng of the People's Bank of China also made remarks at the meeting.

The two sides had professional, pragmatic, candid and constructive discussions on topics ranging from monetary and financial stability, financial regulation and supervision, financial market, cross-border payment and data, sustainable finance, anti-money laundering and countering the financing of terrorism (AML/CFT), to global financial governance, the statement read.

It added the two sides were briefed by technical expert groups on banking sector climate stress testing and respective resolution frameworks for Global Systemically Important Banks (G-SIBs).

According the statement, the two sides also exchanged views on issues of concern and agreed to continue to maintain communication.

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