The People's Bank of China and the European Commission's Directorate-General for Financial Stability, Financial Services and Capital Markets Union held the second meeting of the China-EU Financial Working Group in Brussels on 13–14 May 2025, co-chaired by People's Bank of China Deputy Governor Xuan Changneng and Director-General John Berrigan. Discussions covered global economic uncertainty, each side’s macroeconomic and financial stability outlook, and regulatory topics spanning banking and insurance supervision, pension funds and the development of leasing companies, alongside emerging cooperation areas including sustainable finance, cross-border data flows and cross-border payments infrastructure. Chinese participants included the People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission and the State Administration of Foreign Exchange, while the EU side included the European Central Bank, the European Banking Authority, the European Securities and Markets Authority, the European Insurance and Occupational Pensions Authority and the Single Resolution Board. Both sides assessed the working group as a key channel for financial policy communication and a platform for addressing practical issues and discussing global economic and financial topics. A China-EU financial institutions roundtable was held alongside the meeting, where authorities gathered input on financial digital transformation and fintech innovation and discussed specific requests including market access and business innovation. Participants agreed to establish a regular exchange mechanism, continue deepening cooperation in priority areas, and report outcomes to the China-EU High-Level Economic and Trade Dialogue and to both sides’ leaders.
Central Bank of the Republic of China 2025-05-14
People's Bank of China and European Commission convene second China-EU Financial Working Group meeting in Brussels
The People's Bank of China and the European Commission's Directorate-General for Financial Stability held the second China-EU Financial Working Group meeting in Brussels, discussing macroeconomic stability, regulatory topics, and cooperation in sustainable finance. A roundtable on financial digital transformation and fintech innovation was included, with participants agreeing to establish a regular exchange mechanism and deepen cooperation in priority areas. Outcomes will be reported to the China-EU High-Level Economic and Trade Dialogue and both sides' leaders.