Strengthened Cooperation on Cross-Border Payments Between US and China Post-Third Plenum

Strengthening Financial Stability Cooperation

Senior finance officials from China and the United States agreed to carry out timely communication in times of financial stress during a recent meeting in Shanghai. This meeting aimed at enhancing cooperation on cross-border payments and maintaining financial stability amidst operational risks.

Outcomes of the Meeting

• The People's Bank of China confirmed the conduct of the fifth Financial Working Group meeting.
• Officials from both nations signed agreements to strengthen cooperation on financial stability.
• Discussions included monetary policies and financial governance strategies.

Focus on Sustainable Finance

In addition to financial stability, the group discussed sustainable finance opportunities and operational resilience of financial institutions. A technical expert group also presented insights on cross-border payments resolutions.

Future Directions

• Potential cooperation opportunities outlined between Chinese and American financial institutions.
• Continued dialogue on international finance governance and anti-money laundering measures.