CBIRC and IMF signed a Memorandum of Understanding (MoU) in Beijing, as part of an ongoing effort to strengthen technical cooperation in support of the financial sector reforms in China. The five-year MoU covers cooperation and capacity development in banking and insurance supervision and development, systemic risk prevention, implementation of Financial Sector Assessment Program (FSAP) recommendations, and stakeholder communications.
During her first visit to Beijing, IMF Managing Director Kristalina Georgieva and Chairman GUO Shuqing of the CBIRC agreed that intensified cooperation envisaged under the memorandum will be most helpful in supporting financial stability and development in China. They looked forward to the mutual benefits that will arise from enhanced collaboration and welcomed the continued partnership and cooperation that underpins the strong relationship between the IMF and China.
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Keywords: International, Asia Pacific, China, Banking, Insurance, Fintech, Systemic Risk, MoU, FSAP, Banking Supervision, IMF, CBIRC
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