Business news

MINSK, 15 November (BelTA) - Belarusian and Chinese banks plan to conclude a memorandum of understanding and cooperation. The relevant agreement was reached during a visit of the head of the Association of Belarusian Banks Alexander Kuchinsky to the People's Republic of China on 12-14 November, BelTA learned from the Association.

During the visit, Alexander Kuchinsky held a working meeting with Executive Director of the China Banking Association Pan Guangwei. The parties discussed self-regulation in the banking and finance industries and reviewed promising areas of investment cooperation and interaction in training, organization of joint events. The heads of the two banking associations agreed to work out, in the shortest possible time, a possibility of concluding a memorandum of understanding and cooperation and organizing a visit of the China Banking Association’s representatives to Belarus.

The parties also discussed the participation of Belarusian and Chinese financial institutions in the development of green economy, improvement of payment and settlement system and other relevant topics.

Alexander Kuchinsky also met with Belarus Ambassador to China Kirill Rudy to discuss the cooperation between Belarusian and Chinese banking sectors.

The visit was organized with the support of Belarusbank Office in China.

The Association of Belarusian Banks was established in 1990 to coordinate the activities of financial institutions. Currently it brings together 36 banks and organizations. The association is one of the founders and a member of the International Coordinating Council of Banking Associations in the CIS, Central and Eastern Europe. The association has concluded partnership agreements with more than 20 banking and business associations of Russia, Ukraine, the CIS, EAEU, Central Asia and Europe.

Founded in May 2000, China Banking Association unites more than 650 banks.