FM spokesman Lu Kang comments on the founding of AFCA

Q: The Asia Financial Cooperation Association (AFCA) was set up in May. We've heard that the AFCA will hold a ceremony in the coming days. Do you have more information on that?

A: China is committed to enhancing communication and cooperation between regional financial institutions. On March, 2015, President Xi Jinping raised the idea of setting up the Asia Financial Cooperation Association at the annual meeting of the Boao Forum for Asia, after which this initiative was repeated many times by Premier Li Keqiang. We are glad to see that financial institutions in Asia and other regions are very supportive of this initiative and have responded positively. As one of the outcomes of the Belt and Road Forum for International Cooperation, the AFCA was officially established on May 11 and headquartered in Beijing. So far, it has attracted 107 institutions from across five continents as its founding members.

On July 24, the founding ceremony of the AFCA will be held in Beijing. China expresses its congratulations. We hope that the AFCA will uphold the principle of "connectivity, cooperation, joint governance, shared benefits" and play a constructive role in ensuring stability of the regional and even global financial market and in promoting common development and prosperity of the region.