China-U.S. Financial Working Group Holds First Meeting

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The China-U.S. financial working group held its first meeting via video link on Wednesday, China’s central bank said Friday.

The two sides had professional, pragmatic, candid and constructive communication on monetary and financial stability, financial regulation, sustainable finance, anti-money laundering and countering the financing of terrorism, global financial governance, and other key issues of common concern, according to a statement of the People’s Bank of China (PBOC).

The two sides agreed to maintain communication, the central bank said.

The meeting followed through on the important common understandings reached between the presidents of the two countries at their meeting in Bali and the consensus reached by He Lifeng, Chinese vice premier and Chinese lead person for China-U.S. economic and trade affairs, and U.S. Treasury Secretary Janet Yellen.

Vice-ministerial officials from the PBOC and the U.S. Department of the Treasury co-chaired the meeting on Wednesday, with the attendance of Chinese officials from the National Financial Regulatory Administration and the China Securities Regulatory Commission, as well as U.S. officials from the U.S. Federal Reserve and the U.S. Securities and Exchange Commission. 

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