author
Hongji Feng
author
Hongji Feng
Involve
Main meals:
- The meeting represents the fiftieth anniversary of Chinese diplomatic relations and the European Union, as both sides emphasize stable financial cooperation.
- Li Qiang expressed his support for sharing deeper columns dishes, especially on global monetary reform and multilateral alignment.
- Lagarde pointed to the importance of the continuous dialogue in the Chinese European Union, amid high geopolitical risks and commercial tensions.
Chinese Prime Minister Lee Qiang met with European Central Bank President Christine Lagarde in Beijing on June 12 to discuss Chinese financial cooperation, the European Union and the advanced structure of the global monetary system, according to Read Published by the State Council.
The meeting came amid the fiftieth anniversary of Chinese diplomatic relations and the European Union. Lee told China to support the expansion of institutional coordination with the European Central Bank, especially on international monetary reform and multilateral participation.
The European Union pushes the deepest monetary coordination
According to Li, Chinese and European economies are very complementary, and China is ready to enhance market communication and industrial coordination to advance mutual development. “
Lagarde said that the continuous dialogue between the European Union and China is necessary, given the current geopolitical uncertainty. She welcomed the close technical cooperation between the European Central Bank and the Chinese organizers and indicated the last launch of the mechanism of the dialogue of the central bank of the Central Bank.
Lagarde also stated that the development that relies on innovation in China is clear, and the European Central Bank is looking to deepen participation with financial institutions in China.
Lee pointed to the recent macroeconomic efforts in China to stimulate consumption and compensate for external pressure. Repeat Beijing’s commitment to open its markets and support global financial stability.
Although the conversation did not result in any new political advertisements, both sides framing the discussion as part of a long -term strategy to achieve stability in border capital flows and enhance communication through monetary authorities.
Lagarde said that the definitions and commercial wars were harmful to all parties, which calls for broader cooperation to preserve open markets and protect institutional channels instead.
China to enhance the global CNY position
In addition, the meeting touched on the role of bilateral trade in expanding the scope of local currency settlement. Repeat Lee that China will continue to expand access to its markets, which may support more international use of the yuan.
China also evaluates external digital currency channels to support the border use of the yuan. Recent proposals proposed by JD Group Economy include the backed by Yuan Hong Kong to facilitate trade without affecting local capital controls.
Through official talks and pilots for digital finance, China is testing new ways to expand the role of the yuan in global transactions with organizational borders and reduce dependence on the US dollar.
The use of the local currency can reduce dependence on intermediate currencies, reduce the costs of transactions, and improve flexibility in financial flows during external shocks.
Both sides are studying digital financing tools, and common priorities in this field can be how to combine new currency models worldwide.
With the increasing interest in the settlements of local currencies and alternative payment systems, central banks reassess the infrastructure that supports the exchange of value across the border.
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2025-06-12 21:44:00
