“Financial integration”

Financial integration is an important support for the Belt and Road Initiative. Key measures the countries concerned could take to foster financial integration include:

Increasing financial cooperation to ensure currency stability, build a sound framework for investment, financing, and credit services in Asia, and expand the availability of public financial products;

Strengthening the role of the Asian Infrastructure Investment Bank, the BRICS New Development Bank, the Silk Road Fund, and sovereign wealth funds of the countries concerned in funding key projects;

Expanding local currency settlement for bilateral trade, and promoting the opening up and development of bond markets in Asia in support of RMB bond issuance in China by governments and creditworthy companies and financial institutions of other Belt and Road countries, and the issuance of bonds denominated in the RMB or foreign currencies outside China by Chinese companies and financial institutions;

Facilitating interbank and multilateral cooperation, especially in issuing syndicated loans and bank credit, and encouraging equity funds, other companies and individuals to invest in key projects; and

Enhancing cooperation on financial regulation, improving risk response and crisis management mechanisms, and building a regional financial risk early-warning system, to address any cross-border risks and crises and promote further economic and trade cooperation.