China advances financial opening gateway for ASEAN cooperation
The People's Bank of China and the Guangxi Zhuang Autonomous Region jointly hosted a conference in Beijing to advance a high-level financial opening gateway facing ASEAN. The event, held on February 11, clarified work priorities and acknowledged progress in financial cooperation.
Strategic pillars for ASEAN financial cooperation
During the conference, People's Bank of China Deputy Governor Lu Lei emphasized the critical importance of implementing General Secretary Xi Jinping's major instructions regarding a high-level financial opening gateway.
He outlined key priorities to accelerate a comprehensive new framework for financial cooperation with ASEAN.
These include aligning with national development strategies to enhance the quality and efficiency of financial services in key areas.
Lu Lei also stressed the need to strengthen financial exchanges and cooperation with ASEAN to build greater consensus on regional financial governance.
A pragmatic policy support system for the financial open gateway is also a crucial objective, requiring concerted efforts from all stakeholders.
Inter-agency commitment to financial opening
The conference drew significant participation from key financial regulatory bodies, underscoring a broad institutional commitment to the financial opening initiative.
Officials from the Office of the Central Financial Commission, the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange (SAFE) were present.
This wide representation, alongside officials from the Guangxi Zhuang Autonomous Region and its PBOC branch, highlights a concerted, multi-faceted approach.
The collective attendance signals a unified effort from policy-makers and industry stakeholders to develop and govern the financial opening gateway.