The People's Bank of China (PBOC) and the European Central Bank (ECB) held their first annual meeting between the two governors and signed a memorandum of understanding to formalise and expand central bank cooperation. The memorandum establishes an annual PBOC-ECB governors’ meeting mechanism and sets out a strengthened cooperation framework covering information sharing, policy communication and technical cooperation. Discussions at the meeting covered China-EU economic and financial conditions, reform of the international monetary system, global financial regulation and priority areas for PBOC-ECB cooperation. The PBOC indicated it intends to use the annual meeting mechanism as a platform for ongoing policy dialogue, and the ECB linked the memorandum to maintaining close communication and coordination across cooperation areas.
Central Bank of the Republic of China 2025-06-12
People's Bank of China and European Central Bank sign cooperation memorandum establishing an annual governors’ meeting mechanism
The People's Bank of China and the European Central Bank held their inaugural annual meeting and signed a memorandum of understanding to enhance central bank cooperation. The memorandum establishes a framework for information sharing, policy communication, and technical cooperation. Discussions included China-EU economic conditions, international monetary system reform, and global financial regulation.