OREANDA-NEWS. July 03, 2012. The 13th meeting of the Financial Cooperation Subcommittee of the China-Russia Premier-Level Regular Meeting Committee was held in Kunming, China. The Subcommittee, as an important part of China-Russia Premier-Level Regular Meeting Committee, plays a significant role in implementing the agreements reached by the heads of government of the two countries, promoting financial cooperation, and pushing forward bilateral economic and trade ties, reported the press-centre of PBC.

PBC Assistant Governor Jin Qi, Chairman of the Chinese side of the Subcommittee, and Mr. V.N. Melnikov, Chairman of the Russian side of the Subcommittee and Deputy Governor of Russian Central Bank, co-chaired the meeting. Over 110 representatives from central bank, ministry of foreign affairs, ministry of commerce, banking and insurance regulatory agencies, commercial banks and other financial institutions of the two countries attended the meeting.

During the meeting, the two sides briefed each other on their respective economic and financial situation at home and reviewed the progress in bilateral cooperation since the last meeting. They reached broad consensus on enhancing the role of local currencies in trade settlement, bankcards, project financing, trade financing and other specific topics in banking industry cooperation, and exchanged views on insurance industry cooperation.

After the meeting, Ms. Jin Qi and Mr. Melnikov signed the Minutes of the 13th Meeting of the Financial Cooperation Subcommittee of the Premier-Level Regular Meeting Committee. The two sides agreed that the 14th meeting will be held in Russia in 2013.