Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
The China-US Financial Working group held its third meeting from Thursday to Friday in Beijing, according to a statement issued by the People’s Bank of China (PBOC) on Friday.
The two sides had “professional, pragmatic, candid, and constructive” discussions on issues related to the stability of the two countries’ currencies and finance, financial regulation, financial markets, cross-border payments and data, sustainable finance, anti-money laundering and counter-terrorism financing, global financial governance, and other key issues of common concerns, it said.
The meeting was co-chaired by Xuan Changneng, deputy governor of PBOC, and Brent Neiman, Deputy Under Secretary of the Treasury, while officials from China’s Ministry of Finance, the National Administration of Financial Regulation, the China Securities Regulatory Commission (CSRC), the State Administration of Foreign Exchange, the US Federal Reserve and the US Securities and the US Securities and Exchange Commission (SEC) also attended the meeting.
On the same day, the US Treasury Department said in a statement that meetings between US Treasury and Chinese financial officials concluded this week in Beijing with both sides agreeing to continue to meet regularly.
US officials indicated that Treasury Secretary Janet Yellen looked forward to a return visit to China at an appropriate time, according to the statement.
The meeting of the Financial Working Group included discussions on financial stability and capital markets issues, international financial institutions, sustainable finance, cross-border payments and data and efforts to fight money laundering and financing of terrorism, the Treasury said, adding that US officials frankly raised areas of disagreement during the conversations.
The two sides also reviewed previous exchanges on climate stress testing and frameworks for resolving global systemically important banks in each country, it said.