The State Bank of Vietnam (SBV) and the People’s Bank of China (PBC) organized the first meeting of Working Group on finance and banking cooperation in Hanoi on July 15. The meeting was co-chaired by SBV Deputy Governor Nguyen Thi Hong and PBC Deputy Governor Yi Gang.
Speaking at the meeting, SBV Deputy Governor Nguyen Thi Hong said that implementing the general awareness of Prime Ministers of Vietnam and China on the occasion of Prime Minister Li Keqiang’s visit to Vietnam in October, 2013, the senior leaders of the SBV and PBC jointly signed terms of reference to establish the Working Group on finance and banking cooperation between the two central banks on April 7, 2015, thereby creating the important basis for enhancing the overall cooperation between Vietnam and China. She emphasized that this meeting marked the enormous effort of the two sides over the past time in realizing the idea of the senior leaders of the two countries. Moreover, she asserted that this meeting was of great importance to define operational orientation of the Working Group, main cooperative substances and several specific activities in the coming time.
The first meeting of the Working Group on finance and banking cooperation focused on updating macro-economic situation and results of monetary policy management of the two countries; measures of financial stability; the utilization of domestic currencies in the bilateral settlement; recommendations on cooperative orientation and action plans in the coming time.
In addition, SBV Deputy Governor Nguyen Thi Hong and PBC Deputy Governor Yi Gang highly appreciated the effort of members of the Working Group on finance and banking cooperation in urgently organizing the first meeting of the Working Group right after the signing of the terms of reference. At the same time, the two Deputy Governors requested the Working Group of the two sides to continue closely coordinating with each other and strictly implementing defined substances, especially the key tasks in the coming time.
DH