The China-U.S. Financial Working Group convened its seventh meeting in Nanjing, Jiangsu Province, on Sunday and Monday, as announced by China’s central bank on Tuesday.
The meeting was jointly led by Xuan Changneng, Deputy Governor of the People’s Bank of China (PBOC), and Brent Neiman, Assistant Secretary for International Finance at the U.S. Department of the Treasury.
Participants included financial regulators from both countries, such as the National Financial Regulatory Administration and the China Securities Regulatory Commission on the Chinese side, along with the Federal Reserve and the Securities and Exchange Commission representing the U.S., as noted in the PBOC’s statement.
Discussions were described as professional, pragmatic, candid, and constructive, covering a broad range of topics like macroeconomic and financial trends, monetary policy, financial stability, regulation and supervision, international financial institutions, capital markets, and measures against money laundering and terrorism financing. The two sides also addressed other financial policy areas.
The meeting included updates on prior technical exercises, such as balance of payments compilation and climate modeling, according to the statement.
Additionally, China’s National Financial Regulatory Administration and the U.S. Federal Insurance Office revised a memorandum of understanding to enhance communication and cooperation in the insurance sector.
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