OREANDA-NEWS. July 26, 2013. This year’s IIF Spring Membership Meeting & Board Meeting was held in Paris. Finance ministers from France and Chile, the Governor of the Bank of France, the President of Institute of International Finance (IIF), and executives of European regulatory institutions, international organizations and financial enterprises attended the meeting.

The meeting discussed the economic and financial situation in the world, banking supervision reform, market and investment guidance and other current topics. As a member of the IIF Board of Directors, Mr. Jiang Chaoliang, Chairman of Agricultural Bank of China Limited (ABC), was invited to join the IIF Spring Membership Meeting & Board Meeting, participating in in-depth communications and studies with other delegates on vital issues.

Several conclusions were drawn at the IIF meeting. The global economy was still reliant on the greater loosening of monetary policy. The US shift from quantitative easing would impact the global market. The slow-down of China’s economic growth increased uncertainty, as well as emerging markets like India and Brazil  experiencing slower growth.

The global economy’s slide into a long period of adjustment creates new challenges to banking supervision reform. The IIF meeting encouraged establishing a global banking supervision framework and suggested revising some rules of Basel III in terms of leverage ratio, risk-weighted assets, risk measurement method and net stable funding ratio, and so on. It also required global banking sectors to strengthen the management of sector reputation, focused on a US proposal on cracking down on cross-border tax evasion, and proposed improved credit loss impairment and provision standards.

At the meeting of IIF Board of Directors, Mr. Jiang Chaoliang delivered a speech on China’s pressing economic financial issues that have attracted the attention of the international banking community. China’s local debt risk can be controlled but regional and structural risks need attention. Benefiting from steady and prudent supervision and enhancement of risk control ability, China’s large commercial banks enjoy good asset quality, high provision rate, and powerful risk management capability. Moreover, China’s inter-bank market is flushed with funds, posing no liquidity crisis. Mr. Jiang’s speech was well received by the other delegates. After his presentation, many delegates asked for meetings with ABC to better understand China’s economic and financial development.

As it is known, influential industry association with more than 470 members covering various financial institutions all over the world-commercial banks, asset management companies, pension fund, rating institution and insurance companies, IIF was established in 1983 and headquartered in Washington. The association is led by the Board of Directors consisting of 37 members. ABC Chairman Jiang Chaoliang and ICBC Chairman Jiang Jianqing are the only two directors from China.

ABC’s participation in discussion on and coordination of international banking supervision policies in IIF Spring Membership Meeting & Board Meeting demonstrates the growing influence of the Chinese banking sector, enhanced the voice of China's banking sector, and commanded the recognition of delegates.