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APEC Financier Group Meeting Held in Suzhou
The 7th APEC Financiers Group Meeting (AFG) was held Saturday in Suzhou, a well-known scenic city in east China's Jiangsu Province.
Over 140 representatives of 74 financial institutions from 17 APEC economies and 4 international organizations attended the Meeting. This year's meeting, a gathering with participants outnumbered all previous conventions, has attracted more attention, showing the importance attached by APEC economies and world financial organizations to this meeting.
Fang Chengguo, president of Bank of Communications, and officials from Chinese Finance Ministry and People's Bank of China attended the meeting.
This AFG meeting will focus on the discussion of the changing global and regional economic and financial situation and roles played by the private sector under the new environment; better fitting in with and promoting the adjustments of economic structure by the private sector; enhancing the cooperation and exchange among private sectors in the field of risk management for the stabilization of the regional financial markets; and improving the effectiveness of AFG meeting.
The AFG meeting was launched according to the proposal put forward at the first APEC Finance Ministers Meeting (FMM) held in 1994.
With participants from the private sector of the APEC economies, the AFG meeting, mainly aims to have an extensive discussion about important economic and financial issues and provide consultative opinions and policy proposals to the APEC FMM, from the non- government perspective.
In recent years, the private sector has been playing an even more important role in promoting the economic development, fencing off and mitigating financial risks in the APEC economies. The establishment and development of the AFG meeting has been in accord with and pushed ahead such a trend.
Chinese delegates include 38 representatives from 15 shareholding commercial banks, securities and insurance companies. The international organizations such as the World Bank, Asia Development Bank, ABAC (APEC Business Advisory Council) and PECC (Pacific Economic Cooperation Council) have also been invited to the meeting.
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