China-UK Financial Working Group holds inaugural meeting, secures deliverables
The inaugural meeting of the China-UK Financial Working Group was held in Beijing, co-chaired by PBOC Governor Pan Gongsheng and HMT Economic Secretary Lucy Rigby. Both sides exchanged views on key financial topics and secured several tangible cooperation deliverables.
Platform for policy dialogue and tangible outcomes
The China-UK Financial Working Group (FWG), established in May 2025, held its inaugural meeting in Beijing, co-chaired by PBOC Governor Pan Gongsheng and HMT Economic Secretary Lucy Rigby.
This group provides a platform for regular communication and coordination on financial policy, aiming to promote tangible deliverables between the two countries.
Senior officials from the PBOC, Ministry of Finance, National Financial Regulatory Administration, China Securities Regulatory Commission, and State Administration of Foreign Exchange represented China.
The UK side included officials from HM Treasury, the Bank of England, Prudential Regulation Authority, and Financial Conduct Authority.
The meeting's convention is a key outcome of recent high-level exchanges, with the FWG reporting directly to the co-leads of the China-UK Economic and Financial Dialogue.
This formal structure underscores a commitment to enhancing bilateral financial ties.
Broad agenda, concrete cooperation
Financial management authorities from both sides exchanged views on a broad agenda, encompassing global macroeconomic developments and financial stability, financial regulation and supervision, and market development and connectivity.
Key discussions also addressed anti-money laundering and anti-counterfeit currency, resulting in several tangible cooperation deliverables.
Both nations agreed that the FWG will play a positive role in promoting exchanges between their financial management authorities.
This collaborative framework is expected to foster financial market development and innovation, and crucially, contribute to safeguarding the financial stability of both China and the United Kingdom.
The range of topics covered highlights the depth of their financial engagement.
Strengthening a vital financial bridge
This inaugural meeting underscores a crucial commitment to structured financial dialogue, particularly relevant amidst evolving global economic landscapes.
It provides a vital, formal channel for addressing complex issues and fostering cooperation, moving beyond ad-hoc interactions.
The group's success will be measured by its consistent ability to translate policy discussions into concrete, impactful outcomes for both economies.