On his first day in Beijing, German Vice Chancellor and Finance Minister Olaf Scholz conducted numerous talks with high-ranking government representatives of the People’s Republic of China, including Head of the International Liaison Department Song Tao, First Vice-Premier Han Zheng and Minister of Finance Liu Kun. He also met with representatives of Chinese financial institutions. Olaf Scholz then gave an introductory address at Renmin University, which was followed by a panel discussion about the challenges of the digital economy and associated social and economic change in Germany and China.
Chinese Vice-Premier Liu He and German Finance Minister Olaf Scholz opened the finance dialogue on 18 January. It consisted of three sessions:
- “Macroeconomic Landscape and Global Economic Governance”, chaired by Liu He
- “China-Germany Strategic Cooperation”, chaired by Liu He
- “Financial Cooperation and Financial Regulation”, chaired by Olaf Scholz
Afterwards, three documents were signed:
- An agreement on German-Chinese cooperation in the area of banking regulation, signed by the China Banking and Insurance Regulatory Commission (CBIRC) and the German Federal Financial Supervisory Authority (BaFin)
- An agreement on cooperation in the area of securities trading, signed by the China Securities Regulatory Commission (CSRC) and BaFin
- A Memorandum of Understanding (MoU), signed by the Bundesbank and the People’s Bank of China in the presence of Liu He and Olaf Scholz
To conclude, Vice-Premier Liu He and Finance Minister Olaf Scholz made a joint statement to the press [PDF, 70KB] .