China and Canada Hold First Financial Working Group Meeting in Beijing, Discuss Economic and Financial Cooperation
On April 3, the first meeting of the China-Canada Financial Working Group (FWG) was held in Beijing. It was co-chaired by Pan Gongsheng, Governor of the People’s Bank of China (PBOC), and François-Philippe Champagne, Canada’s Minister of Finance and National Revenue.
Senior officials from both countries attended the meeting. From China, officials came from the PBOC, National Financial Regulatory Administration (NFRA), China Securities Regulatory Commission (CSRC), and State Administration of Foreign Exchange (SAFE). From Canada, officials came from the Department of Finance (DoF), Bank of Canada, and the Office of the Superintendent of Financial Institutions (OSFI).
The China-Canada Financial Working Group was set up in January 2026. It aims to improve cooperation between the two countries on financial and economic matters. These include monetary policy, financial markets, financial regulation, anti-money laundering, cross-border capital flows, and global financial governance. The first meeting was also part of recent high-level talks between the two countries.
During the meeting, both sides discussed global economic trends, monetary policy, financial regulations, and market developments. They also talked about how to handle rising global uncertainty. Both countries agreed that cooperation between regulators and financial institutions is important. It helps build stronger business relations and creates a stable business environment. They also said that the financial sector plays an important role in economic growth, trade, and investment.
A roundtable meeting with financial institutions was also held alongside the FWG meeting. It was chaired by Pan Gongsheng. Senior officials from both countries attended this session.
From China, officials included Li Yunze, Liao Min, Zhu Hexin, Xuan Changneng, and Chen Huaping. From Canada, participants included François-Philippe Champagne, Tiff Macklem, Jennifer May, and Peter Routledge.
Financial authorities from both countries listened to suggestions from financial institutions. Discussions focused on financial market development, cooperation, and innovation in the financial sector.
Senior executives from major institutions also took part. These included China Investment Corporation, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, China Everbright Group, China Life Insurance Group, as well as Manulife Financial Corporation, Brookfield Asset Management, Sun Life Financial, Bank of Montreal, National Bank of Canada, and Canadian Imperial Bank of Commerce.
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