China, US could further strengthen financial co-op

Updated: 2011-05-10 15:41
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WASHINGTON -- China and the United States could step up cooperation on financial reform and regulation, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said on Monday.

"As China's central bank chief, I have great interest in and follow closely the macroeconomic situations in China, the United States and globally," Zhou said in response to questions from Xinhua at a news conference on the sidelines of the third-round China-US Strategic and Economic Dialogue (S&ED), which kicked off on Monday.

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Both sides have had discussions on cooperation in the financial sector, and exchanged views on the financial and macroeconomic situations during the ongoing bilateral dialogue, Zhou noted.

The Chinese central bank chief said he attached importance to promoting business cooperation among financial institutions from both countries, and enhancing dialogue and collaboration between financial regulators of both sides.

During the two-day S&ED, the two sides are expected to exchange opinions on overall, strategic and long-standing issues in the development of China-US relations, as well as international and regional issues of common concern, in order to enhance understanding, strengthen mutual trust and beef up cooperation.

This round of dialogue will be co-chaired by Chinese Vice-Premier Wang Qishan and State Councilor Dai Bingguo, and US Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner.

The high-level dialogue was upgraded from the former Strategic Dialogue and Strategic Economic Dialogue mechanisms, which were initiated in 2005 and 2006, respectively.