Meeting with Vice Chairman Wang Zhaoxing, CBRC

2016-01-19 | Beijing

At the meeting, President Wuttke briefed the Vice Chairman of the latest PP and shared with him some key messages from the PP. He also talked about the over capacity report to be released in late February. Representatives from the Banking and Securities Working Group and NBFI Working Group raised their concerns such as secure and controllable IT, decreasing market share of foreign banks measured as banking assets, funding, etc. Vice Chairman responded to the comments and concerns and encouraged foreign banks to invest more in the infrastructure. He also said that China has fulfilled her WTO commitment and is willing to further open up its financial services.  

The delegation thanked CBRC for the support and expressed the willingness of foreign banks in contributing to the reform process in China and also in other initiatives like the interest rate liberalisation and internationalisation of the RMB.  Vice Chairman expressed his wish to enhance the cooperation with foreign banks and the European Chamber in the future.