The China-EU financial working group held its first meeting in Beijing on March 18 and 19, China's central bank said on Wednesday.

Pan Gongsheng, governor of the People's Bank of China (PBOC) and Jorge Toledo, ambassador of the EU to China, along with other senior officials and representatives from the two sides attended the meeting.

The two sides introduced the macroeconomic and financial stability situation and financial regulatory framework of China and Europe and discussed regulatory requirements. They also exchanged views on topics such as construction of the capital market, sustainable finance and cross-border data transfers and cross-border payments.

Both China and the EU believe that the financial working group will be an important communication channel for policy coordination, a key platform for solving practical problems, and a useful forum for discussing global economic and financial issues.

The China-EU financial working group is a cooperation mechanism that was established based on the consensus reached by leaders of both sides at the 10th China-EU High-level Economic and Trade Dialogue, which aims to strengthen China-EU exchanges and cooperation in finance.