Bank of Lithuania
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The Bank of Lithuania, in consistently developing relations with China’s financial sector’s supervisory authorities, today in Vilnius signed a Memorandum of Understanding with the China Banking Regulatory Commission (CBRC) establishing an arrangement for the sharing of supervisory information and enhancing of cooperation in the area of banking supervision.

“China’s investors are more and more interested in the European Union’s financial sector; thus, we hope that this MoU will encourage interest in Lithuania, assist in developing mutually beneficial bilateral economic ties,” said Ms Ingrida Šimonytė, Deputy Chair of the Board of the Bank of Lithuania, signing the MoU on behalf of the Bank of Lithuania.

“The signing of the MOU lays solid foundation for improving cross-border cooperation between the CBRC and the Bank of Lithuania by way of enhancing information sharing and supervision collaboration on crisis management, and thereby promoting the bilateral banking business exchange and cooperation”, claimed Mr Wang Zhaoxing, Vice-Chair of the China Banking Regulatory Commission.


Photo by V. Skaraitis (BFL)

At the meeting in Vilnius, delegations exchanged views on the prospects for cooperation between the two institutions. Lithuania’s financial sector and its supervision model were introduced.


Photo by V. Skaraitis (BFL)

The Bank of Lithuania and China’s Securities Regulatory Commission more than a year and a half ago (in September 2013) agreed in cooperation in the field of securities regulation, opening the doors to Lithuania’s financial institutions to directly invest in China’s capital market.