AFCA China's another contribution to int'l financial sector

The opening ceremony of Asian Financial Cooperation Association was held in Beijing on July 24 with 107 agencies from around the world as its founding members.

It is another regional financial organization which China is taking the lead to establish in addition to the Asian Infrastructure Investment Bank, and will help provide more public goods for the financial sectors in Asia and the world.

Founded on May 11, it is an outcome of the Belt and Road International Cooperation Forum in Beijing in mid May.

The association will help optimize regional financial resource allocation, and support the development of relevant countries, especially emerging economies.

The association will better Asia's financial market to control and manage financial risks, deepen financial cooperation in Asia, and enlarge Asia's right to have a say in the international financial sector.

The association is another of China's contributions to the international financial sector, and China is willing to work together with other parties to make the association a new platform for professional, practical, innovative, efficient, inclusive and win-win outcomes for financial cooperation and exchanges.

(The author Shi Jianxun is the Vice Dean of Institute for National Innovation and Development, Tongji University. This is an excerpt from his article which was first published in Chinese. The translator is Li Yang.)