Possibilities for Lithuanian financial institutions to open the direct way into China‘s securities market discussed in Beijing
Representatives of the Bank of Lithuania met with Yi Gang, Deputy Governor of the central bank of China, and heads of this country‘s other financial market supervisory authorities in Beijing this week to discuss the possibilities for cooperation in China‘s capital market, which opens up for foreign investors.
„The world‘s second largest Chinese economy recently is becoming increasingly interesting for Lithuanian investors too. Thus one of the main purposes of this visit was to discuss the possibilities to provide the preconditions for all financial institutions in Lithuania to directly invest in China‘s securities market. One of the first steps would be signing of a Memorandum of Understanding on cooperation in the field of the supervision of securities markets,“ says Darius Petrauskas, Deputy Chairman of the Board of the Bank of Lithuania.
According to him, if such a Memorandum were signed, it would open up the way to all Lithuanian financial institutions to seek the status of an institutional investor, which entitles to directly investing in China‘s exclusively dynamic financial market.
In the photograph: Darius Petrauskas, Deputy Chairman of the Board of the Bank of Lithuania, and Yi Gang, Deputy Governor of the central bank of China.
During the meetings, the topicalities of the Lithuanian and Chinese economies and of the development of financial markets were also discussed; in addition, an interest was taken in the plans for the internationalisation of China‘s national currency.
During the visit the representatives of the Bank of Lithuania met with the executive officials of the central bank of China, China Securities Regulatory Commission and domestic financial market institutions.