The China-US financial working group held its seventh meeting in Nanjing, the capital of Jiangsu Province in east China, from December 15 to 16, according to a statement from China's central bank on Tuesday.
The session was co-chaired by Xuan Changneng, deputy governor of the People's Bank of China (PBOC), and Brent Neiman, assistant secretary for international finance at the US Department of the Treasury. Financial regulators from both sides, including China's National Financial Regulatory Administration and the China Securities Regulatory Commission, as well as the US Federal Reserve and the Securities and Exchange Commission, participated in the discussions.
Participants engaged in professional, pragmatic, and constructive dialogue on a wide range of topics 🌍, including macroeconomic and financial developments, monetary policy, financial stability, regulation and supervision, international financial institutions, capital markets, and efforts to combat money laundering and terrorism financing. They also exchanged views on other financial policy matters.
The meeting included briefings on previous technical exercises such as balance of payments compilation and climate modeling. A significant outcome of the session was the update to the memorandum of understanding between China's National Financial Regulatory Administration and the US Federal Insurance Office, enhancing communication and cooperation in the insurance sector.
These ongoing dialogues are vital for strengthening financial ties and ensuring stability between the two major global economies 💡📈.
