Switzerland and China continue financial dialogue

Press release, 01.09.2015

On Tuesday, September 1, high-ranking representatives of the financial market authorities and the central banks of Switzerland and China met in Beijing for a further round of the financial dialogue which was started two years ago. The discussions focused on developments in the financial markets, the further expansion of bilateral cooperation regarding financial matters and in particular the role of Switzerland as a renminbi trading venue and cooperation within the International Monetary Fund (IMF), in the Financial Stability Board and in the G20. On September 2, financial sector representatives from both countries will also meet for a second series of round-table talks in the presence of authority representatives.

With the regular financial dialogue, Switzerland and China maintain and strengthen cooperation between the authorities in both countries which are responsible for international financial and tax matters. The meeting on Tuesday was the third one, following on from those which took place in 2013 and 2014.

The focus of this year's dialogue in Beijing was on international developments in the financial markets and international monetary matters, the further expansion of bilateral cooperation in financial matters and mutual market access, the role of Switzerland as a renminbi hub and cooperation in multilateral bodies such as the IMF, the Financial Stability Board, the G20, the group of 20 most important industrialised countries and emerging markets and the newly established Asian Infrastructure Investment Bank.

The Swiss delegation for the financial dialogue was led by Alexander Karrer, Deputy State Secretary in the State Secretariat for International Financial Matters (SIF) and comprised representatives of the Swiss National Bank, the Swiss Financial Market Supervisory Authority and the Federal Department of Foreign Affairs. The Chinese delegation was led by the People's Bank of China and included representatives of the ministry of finance and financial market and securities supervisory authority. Representatives from both delegations will also take part in the round-table event with the financial sector.

A SIF delegation will subsequently travel to Hong Kong, where bilateral talks will take place with the financial and tax authorities on September 4.