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

The China-U.S. financial working group has held its sixth meeting in the U.S. capital of Washington, D.C., China’s central bank announced on October 31.

Xuan Changneng, deputy governor of the People’s Bank of China (PBOC), and Brent Neiman, deputy under secretary for international finance at the U.S Department of the Treasury, co-chaired the meeting.

According to a PBOC statement, the two sides had “professional, pragmatic, candid and constructive communication” on a range of financial policy topics of mutual interest, including the macroeconomic and financial situations of the two countries, monetary and financial policies, financial stability and regulation, capital markets, anti-money laundering and combating the financing of terrorism.

The Chinese side briefed the U.S. side on a package of measures rolled out by Chinese financial regulators to support stable economic growth. Meanwhile, the Chinese delegation expressed concerns to the U.S. side regarding certain issues.

At the meeting, the participants heard reports from Chinese and U.S. experts on the compilation of balance of payments, crisis communication for global systemically important banks (G-SIBs), climate and insurance industry risks.

The two sides exchanged views on how to enhance cooperation on the supervision of cross-border financial services, the PBOC statement read.

U.S. Treasury Secretary Janet Yellen also met with the Chinese delegation.

Source: Xinhua News Agency