On April 3, the first meeting of the China-Canada Financial Working Group was held in Beijing. The meeting was co-chaired by Pan Gongsheng, Governor of the People's Bank of China, and Shang Pengfei, Canadian Minister of Finance. Senior representatives from the People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, as well as the Canadian Ministry of Finance, the Bank of Canada, and the Office of the Superintendent of Financial Institutions Canada attended the meeting.
The China-Canada Financial Working Group was established in January 2026, providing a mechanism-based and specialized communication channel for exchanges between China and Canada on financial and monetary policy, financial markets, financial stability and supervision, anti-money laundering, cross-border capital flows, and global financial governance. The convening of the group's first meeting is one of the significant outcomes of high-level exchanges between China and Canada in recent times.
At the meeting, the financial regulatory authorities of both countries exchanged views on issues such as the global macroeconomic situation, monetary policy, financial regulation, financial market development, global financial governance, and addressing growing uncertainties. Both sides agreed that strengthening exchanges between regulatory agencies and financial institutions would help create a stable and predictable business environment and promote bilateral trade and economic interactions. They recognized the important role of the financial sector in promoting economic growth and facilitating bilateral trade and investment, and considered it beneficial to enhance communication between their financial regulatory authorities.
As a complementary event to the China-Canada Financial Working Group, a roundtable meeting was held with financial institutions. The meeting was chaired by Pan Gongsheng, Governor of the People's Bank of China. Attendees included Li Yunze, Director of the National Financial Regulatory Administration; Liao Min, Deputy Minister of Finance; Zhu Hexin, Deputy Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange; Xuan Changneng, Deputy Governor of the People's Bank of China; Chen Huaping, Vice Chairman of the China Securities Regulatory Commission; Shang Pengfei, Canadian Minister of Finance; Tiff Macklem, Governor of the Bank of Canada; Caroline Mei, Canadian Ambassador to China; and Peter Routledge, Superintendent of the Office of the Superintendent of Financial Institutions Canada.
The financial authorities of both countries listened to and responded to suggestions and requests from financial institutions regarding financial market development, cooperation opportunities, and innovations in the financial sector. Key leaders and senior executives from institutions including China Investment Corporation, ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, China Everbright Group, China Life Insurance Group, Manulife Financial, Brookfield Asset Management, Sun Life Financial, Bank of Montreal, National Bank of Canada, and Canadian Imperial Bank of Commerce participated in the meeting.
Editor/Melody