Source: Peoples Bank of China
The China-U.S. Financial Working Group (FWG) held its sixth meeting in Washington D.C. on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group in October 2024.
The meeting was co-chaired by Deputy Governor Xuan Changneng of the People’s Bank of China and Assistant Secretary Brent Neiman of the U.S. Department of the Treasury, with relevant financial regulators participating, including the National Financial Regulatory Administration, the China Securities Regulatory Commission and the State Administration of Foreign Exchange from the Chinese side, and the Federal Reserve, the Securities and Exchange Commission and the Federal Deposit Insurance Corporation from the U.S. side.
The two sides had professional, pragmatic, candid and constructive discussions on topics ranging from macroeconomic and financial developments, monetary and financial policy, financial stability, financial regulation and supervision, capital market, to anti-money laundering and countering the financing of terrorism (AML/CFT). They also exchanged views on other financial policy topics.
The People’s Bank of China introduced the recent package of financial policies to support robust economic growth, including the two PBOC facilities, namely the Securities, Funds, and Insurance Companies Swap Facility (SFISF) and the Central Bank Lending Facility for Share Buybacks and Shareholding Increases, to support stable development of the capital market. The Chinese side raised issues of concern to the U.S. side.
The two sides were briefed on the previous technical exercises, including Balance of Payments compilation, strengthening communication in the event of banking stress, and climate and insurance risk. They also exchanged views on how to strengthen cooperation on regulation and supervision on cross-border financial services.
U.S. Treasury Secretary Jenet L. Yellen met with the Chinese delegation.
Date of last update Nov. 29 2018
2024年10月31日