China UK Financial Working Group Inaugural Meeting in Beijing

The inaugural meeting of the China-UK Financial Working Group (FWG) recently took place in Beijing, co-chaired by Pan Gongsheng, the Governor of the People's Bank of China (PBC), and Lucy Rigby, the Economic Secretary to the HM Treasury (HMT). This meeting is a significant outcome of the recent high-level exchanges between China and the UK.

During the discussions, financial authorities from both nations engaged in dialogue regarding global macroeconomic developments, financial stability, regulation and supervision, market connectivity, as well as issues surrounding anti-money laundering and anti-counterfeit currency efforts. They achieved several concrete cooperation outcomes that will advance mutual interests.

The PBC noted that the FWG is expected to play a vital role in fostering exchanges between financial management authorities, cultivating the development and innovation of financial markets, and ensuring both nations' financial stability.

Established in May 2025, the China-UK Financial Working Group aims to facilitate regular communication and coordination on financial policies, with a focus on delivering tangible results. The FWG reports directly to the co-leads of the China-UK Economic and Financial Dialogue.

Additionally, a roundtable discussion was held alongside the FWG meeting. Here, representatives from major financial institutions shared their insights and suggestions on financial market development, cooperation opportunities, and the latest innovations in finance.

Financial management authorities from both countries took note of these recommendations and addressed various requests and comments from the institutions, reflecting the collaborative spirit of the discussions.

Overall, the inaugural meeting of the FWG marks a significant step forward in enhancing financial cooperation between China and the UK. As both nations navigate challenges in the global economic landscape, this initiative underscores their commitment to fostering robust international relations through strategic financial partnerships.