In a significant development, China and the U.S. convened for the fourth meeting of their Financial Working Group in Washington, D.C., to discuss bilateral monetary policy and financial stability, according to China's central bank.
The talks were described as \"professional, pragmatic, candid and constructive,\" focusing on areas such as financial regulatory cooperation, cross-border payments, anti-money laundering, and anti-terrorism financing.
Both nations engaged in detailed exchanges, hearing reports from technical experts on their respective financial regulatory frameworks. The discussions emphasized the importance of maintaining open lines of communication to address mutual concerns.
The meeting was co-chaired by Xuan Changneng, Vice Governor of the People’s Bank of China, and Brent Neiman, Deputy Under Secretary for International Finance at the U.S. Department of the Treasury. Key participants included representatives from China's National Administration of Financial Regulation, China Securities Regulatory Commission, as well as U.S. bodies such as the Federal Reserve, Securities and Exchange Commission, Commodity Futures Trading Commission, and the Federal Deposit Insurance Corporation.
U.S. Treasury Secretary Janet Yellen also met with the Chinese delegation, underscoring the high-level commitment to fostering cooperation between the two economic powerhouses.
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China, U.S. discuss monetary policy, financial stability in Washington
cgtn.com
