On October 19, Asian Financial Cooperation Association Annual Master Forum (2024) was successfully held in Beijing. The forum was also one of the Parallel Forums of the Annual Conference of Financial Street Forum (2024), with the theme of “Belt and Road Financial Cooperation: Opportunities, Challenges and Prospects”. Mr. Zhou Liang, Vice Minister of National Financial Regulatory Administration of China, and Mr. Wang Zhiheng, Vice Chairman and President of Agricultural Bank of China Limited attended the forum and delivered the opening addresses. Mr. Hyeonjin Cha, Executive Director of Korea Deposit Insurance Corporation, Mr. Zhang Ming, Deputy Director General of the Department of Regional Openning-up of the National Development and Reform Commission of China, Mr. Huo Xuewen, Chairman of Bank of Beijing, Mr. Chartsiri Sophonpanich, President of Bangkok Bank Public Company Limited, Mr. Mark Yunfeng Wang, Deputy Chairman, President and Chief Executive Officer, HSBC Bank (China) Company Limited, Mr. Yokohata Hajime, Vice Chairman and President of SUMITOMO MITSUI BANKING CORPORATION(CHINA) LIMITED attended the forum and gave keynote speeches. Mr. Qi Jianming, Secretary General of AFCA moderated the forum.
As Vice Minister Mr. Zhou Liang pointed out in his speech, the Belt and Road Initiative has come to a point where new requirements are put forward for financial cooperation on how to improve effectiveness, how to reflect differentiation, and how to ensure security. Cooperation mechanism needs to be further improved, new modes of cooperation explored and cooperation efficiency improved. By improving services, providing the right products, enriching products mix, and enhancing the inclusiveness of financial governance, the financial industry will provide stronger support and guarantee for the joint construction of the Belt and Road.
Vice Minister Zhou Liang delivering opening keynote at the Forum
According to President Wang Zhiheng, as the most dynamic and resilient region for economic development along the Belt and Road, Asia has entered a new stage of development in financial cooperation. As the new chairman institution of AFCA, the Agricultural Bank of China will work with other AFCA members to further deepen financial cooperation in Asia by striving to promote the digital transformation of finance, deepen cooperation in professional fields, promote infrastructure construction and the integration of standard formulation, and strengthen financial capacity building and communication as well as cooperation.
President Wang Zhiheng delivering opening keynote at the Forum
Forum site
The Report Launch session was moderated by Ms. Yang Liyu, Executive Deputy Secretary General of AFCA. It was the seventh consecutive year that this AFCA annual report has been released. The report reviewed the economic and financial situation in Asia from 2023 to mid-2024, analyzed new development challenges, explored new opportunities for cooperation, and provided relevant policy recommendations. The forum also witnessed Silk Road Fund – Uzbektelecom Loan Facility Accordion Accession Agreement Exchange.
The Penal Discussion on “Belt and Road financial cooperation and the development of the digital economy” was moderated by Mr. Jin Li, Member of the National Committee of the Chinese People’s Political Consultative Conference, Vice President of Southern University of Science and Technology. Mr. Shingo Nishikawa, President of MITSUI SUMITOMO INSURANCE(CHINA) CO.,LTD, Mr. Wu Peng, Executive Committee Member and Business Director of China Galaxy Securities Co., Ltd, Ms. Hámori Réka, Chief Economist of Hungarian Banking Association, Mr. Fu Yingsheng, Deputy General Manager of Strategic Research Department, SINOSURE elaborated financial cooperation solutions to promote the digital economy development.
Penal Discussion on “Belt and Road financial cooperation and the development of the digital economy”
Over 150 representatives of financial regulators, AFCA member institutions, non-member financial institutions, from Chinese mainland, Hong Kong, Macao, Japan, Korea, Malaysia, Thailand, Uzbekistan, United Kingdom, Hungary, Germany, Switzerland, and the United States attended the forum. The secretariat of AFCA also held a closed-door session in which relevant members communicated with the regulatory authorities over issues of mutual interests.
Link to CCTV-2 report of the forum: Please click 【Read more】/【阅读原文】on the bottom left corner
