Second Canada–China Economic and Financial Strategic Dialogue concludes

The Second Canada–China Economic and Financial Strategic Dialogue (EFSD) was held in Vancouver on Sunday and Monday, the Chinese Ministry of Finance said on Tuesday.

According to the joint factsheet published on the ministry's website following the dialogue, the two sides agreed to enhance financial sector cooperation, including on financial services market access, and foster engagement between capital market and financial regulatory authorities.

Financial regulatory authorities and central banks from both countries also signed the Cooperation Agreement for the Financial Regulatory and Supervisory Dialogue and the Terms of Reference for the Financial Working Group, respectively.

During the dialogue, the two sides exchanged views on the global economic outlook as well as macroeconomic situations and policies in their respective countries, the factsheet noted.

They agreed to deepen cooperation under multilateral mechanisms, and within the frameworks of international financial institutions, including multilateral development banks, to improve global economic governance, it added.

Both sides reaffirmed their support for multilateralism and a transparent and predictable environment for trade and investment. They also welcomed the implementation of the bilateral currency swap arrangement and the positive progress made in recent bilateral economic and trade consultations, the document said.

The two sides said they looked forward to the next EFSD being held in China.

Chinese Vice-Minister of Finance Liao Min and Patrick Halley, assistant deputy minister for international trade and finance at Canada's Department of Finance, signed the MOU on Cooperation between Finance Ministries on Nov 8, China's Ministry of Finance said in a separate statement.