On January 14 2008, the CBRC held the first consultation in Beijing with the delegation of Japan’s Financial Service Agency (JFSA) led by Mr. Nobuyoshi CHIHARA, the deputy commissioner of its International Affairs, which marks that a regular consultation mechanism between the two regulators is officially established with a view to stepping up bilateral supervisory cooperation in the banking sector.
At the meeting, the two parties exchanged information and views on the developments of the banking industries in China and Japan, the policies on foreign banks, and Japan’s initiatives to sharpen its financial competitive edge, etc.. Both parties agreed that the consultation reached general consensus and the regular consultation mechanism provides a good opportunity for supervisors from the two sides to exchange views and experience face to face, enhance bilateral understanding and cross-border supervisory cooperation, and facilitate discussions on hot topics of banking supervision. They believe that it will play an active role in boosting sound development of banking industry and maintaining the regional financial stability.
Press release
© Graham Bishop
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