The first meeting of the China-Canada Financial Working Group was held in Beijing.

What financial regulatory cooperation did AI discuss during the conference to address global uncertainties?

Beijing Daily News: According to the People’s Bank of China, on April 3rd, the first meeting of the China-Canada Financial Working Group was held in Beijing. The meeting was co-chaired by Pan Gongsheng, Governor of the People’s Bank of China, and Bill Morneau, Minister of Finance of Canada. Senior representatives from the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, as well as from the Canadian Department of Finance, the Bank of Canada, and the Office of the Superintendent of Financial Institutions of Canada attended the meeting.

The China-Canada Financial Working Group was established in January 2026, providing a mechanized and professional communication channel for exchanges between China and Canada on topics such as monetary and financial policy, financial markets, financial stability and regulation, anti-money laundering, cross-border capital flows, and global financial governance. The convening of this first meeting is one of the recent significant achievements in high-level exchanges between China and Canada.

At the meeting, the financial regulatory authorities of both sides exchanged views on global macroeconomic conditions, monetary policy, financial regulation, development of financial markets, global financial governance, and responses to the increasing uncertainties. Both sides agreed that strengthening communication between regulatory agencies and financial institutions helps create a stable and predictable business environment and promotes economic and trade exchanges between the two countries. They recognized that the financial sector plays an important role in promoting economic growth and facilitating bilateral trade and investment, and saw positive significance in enhancing communication between their financial regulatory departments.

As a supporting activity of the China-Canada Financial Working Group, a roundtable discussion was held with financial institutions. The meeting was chaired by Pan Gongsheng, Governor of the People’s Bank of China. Attendees included Li Yunze, Director of the State Administration of Foreign Exchange; Liao Min, Vice Minister of Finance; Zhu Hexin, Deputy Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange; Xuan Changneng, Vice Governor of the People’s Bank of China; Chen Huaping, Vice Chairman of the China Securities Regulatory Commission; Bill Morneau, Minister of Finance of Canada; Tiff Macklem, Governor of the Bank of Canada; Mélanie Joly, Canadian Ambassador to China; and Louth Litch, Director of the Office of the Superintendent of Financial Institutions of Canada. The financial regulatory authorities of both sides listened to suggestions and demands from financial institutions regarding market development, cooperation opportunities, and innovation in the financial sector, and responded accordingly. Key representatives and senior managers from financial institutions such as China Investment Corporation, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, China Everbright Group, China Life Insurance Group, Manulife Financial Group, Brookfield Asset Management, National Bank of Canada, Toronto-Dominion Bank, and other financial organizations participated in the meeting.

Editor: Liu Jiani