The Financial Sub-forum of the Fourth China-Russia Economic and Trade Summit Forum and the Fourth China-Russia Financial Cooperation Forum opened days ago in Beijing. Ms. Wu Xiaoling, Vice Chairman of the Finance and Economic Committee of the National People s Congress and Executive Vice President of the China Society for Finance and Banking, Mr.
Tosunyan, President of the Association of Russian Banks, and Mr. Aksakov, President of the Russian Association of Regional Banks, addressed the opening ceremony. Mr. Zhang Jianhua, Secretary General of the China Society for Finance and Banking and Director-General of the Research Bureau of the PBC, moderated the meeting.
Over 150 participants from Chinese and Russian central banks, financial supervisory bodies, financial institutions and academic communities attended the meeting.
Ms. Wu Xiaoling noted in her speech that platforms for financial exchanges between China and Russia increased in recent years, and the topics were broadened. She said that the combination of the Financial Sub-forum and the Financial Cooperation Forum this time provided an opportunity to encourage greater participation, stimulate in-depth discussions and improve efficiency, and that it would play a positive role in strengthening bilateral financial communication and exchange, and in better dealing with the international financial crisis.
Representatives from Chinese and Russian financial supervisory agencies and financial institutions made presentations on a number of issues, including financial innovation, regulation and supervision, the building of financial infrastructure as part of bilateral economic cooperation, cross-border trade settlement, and cross-border securities listing and trading, which sparked heated and in-depth discussions.
Co-sponsored by the PBC and the Bank of Russia, the Financial Sub-forum of the Fourth China-Russia Economic and Trade Summit Forum is a key component of the regular meeting mechanism between heads of government of the two countries. The China-Russia Financial Cooperation Forum, which is placed in the framework of the China-Russia Committee for Friendship, Peace and Development, is held under the aegis of the China Society for Finance and Banking and the Association of Russian Banks. The two forums were held together for the first time this year.
