Chinese and U.S. delegations discussed the two countries’ monetary policies and anti-money laundering measures in Shanghai, eastern China, last week, Chinese authorities said Monday.
At the fifth meeting of the joint financial working group, delegations from the two countries held “professional, pragmatic, frank and constructive” meetings, which also discussed data flows and cross-border payments, the resilience of financial institutions or measures against terrorist financing, the People’s Bank of China (the central bank) said on Monday.
Before the trip, the North American press said the US delegation would also try to discuss the fight against fentanyl, but the Chinese agency’s statement made no mention of the issue.
The meeting, which took place on Thursday and Friday last week, was chaired on the Chinese side by Vice Governor of the People’s Bank of China Xuan Changneng and on the North American side by Treasury Undersecretary for International Finance Brent Neumann.
Representatives from regulatory authorities in both countries and the US Federal Reserve (Fed) also attended the round of dialogue, which brought together financial institutions for the first time to explore possible cooperation opportunities and share experiences in sustainable finance.
China’s central bank and the US Treasury Department have signed documents aimed at strengthening “channels for timely and smooth communication” on financial management issues and reducing uncertainty “when situations of financial pressure and operational risks arise for financial institutions.”
While the statement only mentioned that the People’s Bank of China had “expressed concerns about the issues of concern” to the American envoys, the official Global Times newspaper indicated last week that Chinese officials would focus on “tightening economic restrictions and trade issues” imposed on China and demanding that Washington “stop politicizing trade issues.”
Both sides agreed to maintain communication in the future, the statement said, without specifying when the next round of dialogue would take place.
The working group was established in 2023, along with another one devoted to economic issues, and is jointly overseen by Chinese Vice Premier He Lifeng and US Treasury Secretary Janet Yellen, who visited China in April.
Author: Lusa
Source: CM Jornal
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