German-Chinese financial dialogue ©Jens Fuhrmann

Closer cooperation with Chinese central bank

On 18 January 2019, on the invitation of Chinese Vice Premier Liu He, the second German-Chinese financial dialogue took place in Beijing. The overarching aim of the dialogue is to further deepen German-Chinese cooperation in the financial sector, particularly in terms of improving mutual market access. Bundesbank President Jens Weidmann and Executive Board member Burkhard Balz represented the Bundesbank at the high-level meeting.

A number of agreements were signed on the sidelines of the event, including a Memorandum of Understanding between the Bundesbank and the People’s Bank of China – signed in the presence of Liu He and Federal Minister of Finance Olaf Scholz – which will serve as the basis for expanding the bilateral central bank dialogue that has already been underway for many years. The objective, amongst others, is to promote both mutual exchange on current issues in economics and finance as well as dialogue on special aspects of central banking, especially the provision of technical support services and training measures. Organisational responsibility lies with the Centre for International Central Bank Dialogue (CIC) in Directorate General Economic Education, University and International Central Bank Dialogue.

Text: Jens Fuhrmann