An NAFMII delegation led by Secretary-General Shi Wenchao visited the UK and France from April 12-20. During the visit, NAFMII held the China Securities Summit together with the International Capital Market Association (ICMA) in the UK, and signed a memorandum of understanding on cooperation with Paris EUROPLACEEUROPLACE and held a symposium attended by the members of both sides in France. In addition, NAFMII also visited self-regulatory organizations and financial institutions such as Royal Bank of Scotland (RBS), Scottish Financial Risk Academy (SFRA), HSBC, International Capital Market Association (ICMA), China-Britain Business Council (CBBC) and Paris EUROPLACEEUROPLACE.

NAFMII and ICMA held the China Securities Summit in London on April 17. Participants exchanged views on the development, innovation and risk prevention in China’s bond market, the Chinese derivatives market, and the offshore RMB market, as well as internationalization of China’s bond market, and exchange and cooperation between members of the Chinese financial market and the European financial market. Secretary-General Shi delivered a keynote speech at the opening ceremony of the Summit. Representatives of both Chinese market and the European market discussed issues relating to the development of China’s debt capital market. The Summit was a complete success and has been spoken highly by the participating international self-regulatory organizations, financial institutions and government authorities both at home and abroad.

(Secretary-General Shi Wenchao delivers a keynote speech at the China Securities Market)

During the visit to France, Secretary-General Shi and Gerard Mestrallet, Chairman of Paris EUROPLACE, signed a memorandum of understanding (MOU) on bilateral cooperation. The signing of the MOU is an important step for both the Chinese and French financial markets to promote bilateral exchange and cooperation at the self-regulatory organizations level. Both parties will strengthen cooperation in information exchange, training, research, interaction between market members and other fields. After the signing ceremony, NAFMII and Paris EUROPLACE held a symposium for members of the Chinese and French financial markets. Both sides reviewed the development of the respective financial markets, and discussed the development of the bond market and the promotion for the interaction between financial institutions in both countries. The members of both sides have spoken highly on the work NAFMII and Paris EUROPLACE have done in serving the markets in their respective country, and expected the bilateral cooperation would further propel the exchange and cooperation between the Chinese and French financial markets.

(Secretary-General Shi Wenchao and Gerard Mestrallet, Chairman of Paris EUROPLACE, sign the memorandum of understanding on bilateral cooperation)

During the visit, NAFMII consulted relevant institutions in the UK and France about the trend of the European sovereignty debt crisis, practice of the European financial market in risk management, role of the self-regulatory organizations in promoting the development of the financial market and other aspects, and discussed how to enhance cooperation between NAFMII and its counterparts in these two countries.

(The delegation holds talks with RBS and Scottish Financial Risk Academy)

(The delegation holds talks with HSBC)

The visit has promoted the achievements of the Chinese interbank market, deepened understanding of different institutions in the UK and France about the development experience and mode of China’s financial market, enhanced cooperation between NAFMII and relevant institutions in the two countries, and built an effective platform for NAFMII members to expand overseas business operations. During the visit, the delegation also probed in depth into the current status and trend of the European sovereignty debt crisis, surveyed the practice of various kinds of institutions in risk management and prevention, and obtained important experience and reference for exploring the risk management system specific to the Chinese market.