On September 13, the 10th China-ASEAN Summit Forum for Financial Cooperation and Development, jointly sponsored by the People's Government of Guangxi Zhuang Autonomous Region, CHINA SOCIETY FOR FINANCE AND BANKING, China Banking Association, the Securities Association of China, and the Insurance Association of China, was held in Nanning. The forum is based on the theme of “Opening up and Innovation: China-ASEAN Financial Cooperation in the New Era”. More than 600 financial regulatory authorities, financial institutions, corporate leaders and experts and sholars from China, ASEAN, Hong Kong and Macao and other countries and regions attended the forum and related activities. The chairman of the autonomous region, Chen Wu, attended and addressed on the forum and witnessed the signing ceremony. Mr. Ding Xiangqun, vice chairman of the autonomous region, presided over the forum.
In his speech, Mr. Chen Wu pointed out that since its inception 10 years ago, China-ASEAN Summit Forum for Financial Cooperation and Development has been adhering to the mission of cooperation between China and ASEAN, proactively serving the “Belt and Road Initiative”, and focusing on building an exchange and cooperation platform for institutionalization, normalization and upgrading of the regional financial system, thus becoming a major feature and brand of China-ASEAN Expo and China-ASEAN Business and Investment Summit. The forum adheres to the main mission of cooperation, adapts to changes of situation, responds to the concerns of all parties, brings together the wisdom of all parties, and promote consensus among all paries. So far, it has brought together more than 30 topics for discussion, signed a series of cooperation agreements and initiated a series of new ideas, new thinking and new initiatives to promote China-ASEAN financial cooperation and development. The forum focused on mutual benefit and win-win cooperation. Through financial exchanges and cooperation, it has effectively promoted the construction of the China-ASEAN Free Trade Area. In 2017, China’s trade with ASEAN reached US$514.8 billion, accounting for 45% of China’s total trade with countries along the Belt and Road.
Chen Wu expressed that this year marks the 40th anniversary of China's reform and opening up, and also the 15th anniversary of China-ASEAN's Strategic Partnership and China-ASEAN Innovation Year. Standing at a new historical starting point, Guangxi will seize China's new historical opportunities of further opening-up, especially the financial opening-up, and strive to create an open financial portal toward the ASEAN, promote all-round cooperation among financial institutions, and promote the innovation for broad cross-border financial businesses. We will improve the multi-level financial cooperation platform mechanism, and build Guangxi a pioneering zone for RMB regionalization in the ASEAN, a demonstration zone for the South-South financial cooperation between China and ASEAN, a safe zone for China-ASEAN financial opening-up, and a pilot area for green financial reform and innovation. We will strive to build Guangxi into a base of mid- and back-offices of financial service for ASEAN countries, China's South Gate for finance opening-up, and China's big channel for financial cooperation with ASEAN, thus making contributions to facilitate China-ASEAN trade and investment, promote South-South financial cooperation, and add new forces to The “Belt and Road Initiative”.
Mr. Liu Guoqiang, deputy governor of the People's Bank of China, Chea Chanto, president of the National Bank of Cambodia, Kyaw Kyaw Maung, the president of the Central Bank of Myanmar, Nathan Chaen Sari, assistant to the Governor of the Central Bank of Laos, and Shi Lida Ayutthaya, the assistant to the Governor of the Central Bank of Thailand, as well as relevant financial authority heads and relevant financial institution executives, all gave a keynote speech based on the topics of "Opening-up and Innovation: China-ASEAN Financial Cooperation Policy in the New Era" and "Opening-up and Innovation: China-ASEAN Financial Cooperation Practice in the New Era". Participants also conducted in-depth discussions on hot issues such as China-ASEAN investment opportunities in the context of financial opening-up.
During the forum, the People's Government of Guangxi Zhuang Autonomous Region signed a strategic cooperation agreement with China Reinsurance Group and China Cinda Asset Management Co., respectively. The Nanning Municipal People's Government and Bank of China (Hong Kong) Co., Ltd. signed a cooperation letter of intent for establishment of the bank’s Southeast Asia Business Operation Center in Nanning. China Reinsurance Group and Cambodian National Reinsurance Company signed a memorandum of cooperation on the “Belt and Road” insurance consortium. And Guilin Bank signed a strategic cooperation agreement with Cambodian Canadia Bank.