NDRC to coordinate financial agency cooperation on Belt and Road

China’s top economic policy planne rsigned a framework agreement with five major financial agencies in Beijing on Nov. 8 to coordinate their collaboration to advance Belt and Road production capacity cooperation.

The National Development and Reform Commission (NDRC) inked the agreement with China Development Bank, China Export&Credit Insurance Corporation, Industrial and Commercial Bank of China, Bank of China and China International Capital Corporation.

The six signatories will establish a coordination mechanism on Belt and Road production capacity cooperation. He Lifeng, minister of the NDRC, and Ning Jizhe, vice-minister of the NDRC, held an in-depth discussion with representatives from the other five signatories after the signing ceremony.

According to the agreement, the NDRC will be a coordinator of the cooperation mechanism. And these financial agencies are expected to utilize their strengths in providing international financial services and share their information, so as to enhance their financial service levels.