Banks, China, Financial Services, Investments, Legislation, Lithuania

Photo: lietuvosbankas.lt

“China’s investors are more and more interested in the European Union’s financial sector; thus, we hope that this MoU will encourage interest in Lithuania, assist in developing mutually beneficial bilateral economic ties,” said Ms Ingrida Simonyte, Deputy Chair of the Board of the Bank of Lithuania, signing the MoU on behalf of the Bank of Lithuania.

“The signing of the MOU lays solid foundation for improving cross-border cooperation between the CBRC and the Bank of Lithuania by way of enhancing information sharing and supervision collaboration on crisis management, and thereby promoting the bilateral banking business exchange and cooperation”, claimed Mr Wang Zhaoxing, Vice-Chair of the China Banking Regulatory Commission.

At the meeting in Vilnius, delegations exchanged views on the prospects for cooperation between the two institutions. Lithuania’s financial sector and its supervision model were introduced.

The Bank of Lithuania and China’s Securities Regulatory Commission more than a year and a half ago (in September 2013) agreed in cooperation in the field of securities regulation, opening the doors to Lithuania’s financial institutions to directly invest in China’s capital market.