Enlargement of Memorandum of Understanding
The Czech National Bank (CNB) and the China Banking Regulatory Commission (CBRC) have signed a “Statement of Cooperation on Crisis Management” enlarging their existing Memorandum of Understanding. Today’s signing during the China-Czech Financial Cooperation Forum under the Belt and Road Initiative is a further major step in enhancing cooperation.
“Representatives of the Chinese and Czech financial sectors meet regularly at various forums. Both sides benefit from cooperation, trade, investment and sharing experience and knowledge,” said the Governor of the Czech National Bank Miroslav Singer.
CBRC-CNB supervisory cooperation is built on a long-term basis. The Memorandum of Understanding was signed back in 2010. The Statement of Cooperation on Crisis Management signifies enhanced bilateral supervisory communication and cooperation.
“Regulatory authorities from 28 countries along the Belt and Road have signed MoUs with the CBRC. The MoU with the Czech Republic was one of the first to be signed between the CBRC and an EU supervisory authority,” said Shang Fulin, Chairman of the CBRC.
The Belt and Road Initiative creates potential for mutually beneficial economic cooperation between China and the Czech Republic. The CBRC and the CNB will work together to facilitate enhanced financial cooperation.
Director, CNB Communications Division