China-Russia financial cooperation in progress

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Last updated at: (Beijing Time) Thursday, November 27, 2003

China-Russia financial cooperation in progress

The second meeting of the China-Russia financial cooperation forum opened Thursday in Beijing.

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The second meeting of the China-Russia financial cooperation forum opened Thursday in Beijing.

Addressing the meeting, Li Guixian, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, said the smooth development of Sino-Russian ties had brought bright prospects for financial cooperation between the twosides.

Li, also chairman on the Chinese side of the Sino-Russian Friendship Committee for Peace and Development and honorary president of the Chinese Monetary Society, said the two countries'financial cooperation was making constant progress. He listed the signing of a settlement agreement for border areas, the development of relations between commercial banks, cooperation against money-laundering and financing for terrorism, and cooperation in the insurance business.

The forum first met in 2001 in Moscow, which greatly promoted financial cooperation, Li said.

In his letter to the meeting, Russia's Deputy Prime Minister Viktor Borisovich Khristenko said more banks from the two sides are providing financial services to the trade and economic development, and the mutual trust between the banks has also been strengthened.

More than 200 people from the financial communities of both sides attended the two-day event.

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