People's Bank of China co-hosts third China–Switzerland ministerial financial meeting as AML agencies sign intelligence-sharing MoU

The People's Bank of China reported that the third China–Switzerland ministerial financial meeting was held in Bern, co-chaired by Vice Governor Xuan Changneng and the State Secretary of Switzerland’s Federal Department of Finance. Chinese and Swiss authorities exchanged views on the economic and financial outlook, global financial governance, bilateral supervisory cooperation, local currency cooperation, financial market connectivity, digital innovation and sustainable finance. 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, alongside Switzerland’s Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority. A parallel dialogue with financial institutions discussed proposals and practical issues including financial sector opening, market access and financial market cooperation; China also briefed Switzerland on the fourth plenum of the 20th Central Committee and the main elements of the 15th Five-Year Plan. Both sides committed to follow up on cooperation intentions in priority areas on a pragmatic and efficient basis. During the meeting, China’s Anti-Money Laundering Monitoring and Analysis Center and Switzerland’s Money Laundering Reporting Office signed a memorandum of understanding on financial intelligence exchange cooperation to combat money laundering, related predicate offences and terrorist financing.