OREANDA-NEWS. November 11, 2013. The third session of the Council of China-ASEAN Inter-bank Association & Workshops for China-ASEAN Interconnectivity Construction, Financial Supervision and Bank Risk Prevention and Control was held in Beijing.

Hu Huaibang, Chairman of China Development Bank and President of the Inter-bank Association Council, attended the meeting and delivered speeches. Wang Yongsheng, Vice Chairman of CDB, presided over the meeting. The participants include the related officials of the Department of Asian Affairs of the Ministry of Foreign Affairs, the members of the Inter-bank Association, the ASEAN Secretariat, and representatives of central banks from Vietnam, Laos, Cambodia and Myanmar.

At this meeting, members of the Association proposed the Initiative for Establishing the Training Mechanism of Experiences-sharing and Communications Under the Framework of China-ASEAN Inter-bank Association (hereinafter referred to as the "Initiative") and exchanged views on a variety of issues concerning the current political and economic situations around the world and their responsive measures, resulting in constructive opinions and suggestions for expanding the pragmatic cooperation under the framework of the Inter-bank Association. China Development Bank completed the work handover with Brunei Islamic Bank, which will replace CDB to act as the next Head Bank for a term of two years.

During the third session of the Inter-bank Association Council, CDB held a "Workshop for Financial Supervision and Bank Risk Prevention and Control" as the first event of the "Initiative". The participants exchanged views on a variety of issues concerning the latest practices and experience in financial supervision policy development and bank risk prevention and control. Shen Liantao, the former Chairman of the Hong Kong SFC delivered a keynote speech on the establishment of a modern financial system to improve financial supervision and regional financial cooperation.

At the "Workshops for China-ASEAN Interconnectivity Construction", the participants exchanged views on the potential and opportunities for implementing the investment and financing cooperation of interconnection projects in the ASEAN region and discussed the effective financing mode and credit measures to bring about substantial progress in China-ASEAN interconnection construction and promote the bilateral pragmatic cooperation and exchanges.

China-ASEAN Inter-bank Association was formally established in October 2010 during the 13th China-ASEAN Summit. The first members are the major financial institutions of China and ASEAN countries, which have certain influences in China and the ASEAN region. Member banks include Brunei Islamic Bank, Canadia Bank, Bank Mandiri, Lao Development Bank, CIMB Bank Berhad, Myanmar Foreign Trade Bank, BDO Bank, DBS Bank, KASIKORNBANK Public Company Limited (formerly Thai Farmers Bank), Bank for Investment and Development of Vietnam, and China development Bank.