第四次中德高级别财金对话联合声明

Core Viewpoint - The fourth high-level financial dialogue between China and Germany emphasizes the importance of bilateral communication and policy coordination in the financial sector, aiming to promote global economic recovery and sustainable development while enhancing financial stability [1]. Group 1: Bilateral Cooperation and Multilateral Frameworks - Both parties commit to maintaining international and multilateral cooperation, opposing unilateralism and trade protectionism, and supporting the G20 as a key forum for international economic cooperation [2]. - The significance of a rules-based multilateral trading system centered around the World Trade Organization (WTO) is highlighted, with both sides supporting WTO reforms to create a fair and transparent trade environment [2]. - Continued close cooperation within the International Monetary Fund (IMF) framework is agreed upon, advocating for a strong, resource-rich IMF that reflects member countries' relative positions in the global economy [2]. Group 2: Development and Debt Management - Both parties aim to address debt vulnerabilities in low- and middle-income countries effectively and support the implementation of the G20's debt treatment framework [3]. - The importance of the International Development Association (IDA) is reaffirmed, with expectations for the World Bank Group to fulfill its commitments regarding IDA replenishment [4]. - Cooperation under the Asian Infrastructure Investment Bank (AIIB) framework is set to enhance sustainable operations and support member countries in achieving sustainable development [4]. Group 3: Financial Market Connectivity - The dialogue encourages qualified companies from both countries to issue Global Depositary Receipts (GDRs) and Chinese Depositary Receipts (CDRs) to enhance market liquidity and connectivity [7]. - The issuance of Panda bonds is recognized as crucial for the financial operations of German enterprises in China, with support for qualified German institutions to issue these bonds [7]. - Both parties acknowledge the importance of a developed derivatives market for enhancing market depth, liquidity, and stability, welcoming participation from qualified enterprises [10]. Group 4: Financial Technology and Regulatory Cooperation - Financial technology cooperation is encouraged to foster further development and innovation in the sector [11]. - Strengthening regulatory cooperation in the banking and insurance sectors is emphasized, with discussions on potential memorandums of understanding to enhance communication mechanisms [12]. - The importance of insurance institutions in improving market inclusivity and economic resilience is recognized, with commitments to facilitate licensing applications [12]. Group 5: Sustainable Finance and Green Initiatives - Both parties welcome significant progress in green finance and sustainable financial infrastructure, committing to deepen cooperation under the Central Banks and Supervisors Network for Greening the Financial System (NGFS) [6]. - Joint efforts to enhance the interoperability of standards in sustainable finance are agreed upon, aiming to mobilize private sector funding for climate action and sustainable development [6]. - The dialogue encourages innovation in green bond disclosure standards and joint research on climate risks by financial institutions [15].