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15 May 2017, 16:10

China ready to boost financial cooperation with Belt and Road participants

BEIJING, 15 May (BelTA) – China is ready to ramp up financial cooperation with the states participating in the Belt and Road initiative, Governor of the People's Bank of China Zhou Xiaochuan said during a meeting held as part of the One Belt, One Road summit in Beijing.

According to Zhou Xiaochuan, the financial integration serves as an important foundation to help implement the Silk Road Economic Belt and Maritime Silk Road initiative.

The governor of the People's Bank of China advocated the development of financial resources assigned for development goals; formation of banking networks; strengthening financial infrastructure and increasing the role of national currencies in the implementation of the Belt and Road initiative.

As a result of the meeting, financial authorities of the participating countries signed the document “Belt and Road Financing Guidelines”. China's Finance Ministry, the World Bank, the Asian Infrastructure Investment Bank, and the Asian Development Bank signed a memorandum of mutual understanding on cooperation under the Belt and Road initiative. The People's Bank of China also signed memorandums of mutual understanding with the International Monetary Fund and the Czech National Bank.

The Belt and Road summit is running in Beijing on 14-15 May. The event is attended by 29 heads of state and government along with top managers of major international organizations.

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