Twin pacts signed on financial services

The Irish Financial Services Regulatory Authority signed two memorandums of understanding with the China Banking Regulatory Commission and the China Securities Regulatory Commission yesterday in Beijing.

"The agreements are designed to enhance cooperation between the two countries' regulatory bodies and create new opportunities for greater trade and investment in financial services between companies from both countries," Irish Prime Minister Brian Cowen said.

Cowen yesterday led an Irish trade mission comprising representatives from 94 companies in a bid to boost economic ties with China. He will today attend the opening of the 7th Asia-Europe Meeting (ASEM7).