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Chinese official seeks more financial cooperation with ASEAN

A high official of China's central bank called for more financial cooperation with members of the Association of Southeast Asian Nations.

China and ASEAN members should enhance financial policy coordination and step up cooperation in areas such as financial market stability and anti-money laundering, Pan Gongsheng, deputy governor of the People's Bank of China, said during the ninth China-ASEAN Expo at the Guangxi Zhuang Autonomous Region.

Pan urged concerted efforts from the two sides to intensify monitoring of cross-border capital flows and draw out a cooperation mechanism on inter-bank local currency clearing.

He also advised the two sides to improve currency swap mechanisms, continue to implement the China-ASEAN free trade area agreements and further open up their financial markets to each other.

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