The statement was signed by David Carse, the director general of the JFSC, and Liu Mingkang, chairman of the CBRC, the statutory body responsible for banking regulation and supervision in the People’s Republic of China.
The objectives of the statement include working towards the mutual understanding of both jurisdictions’ regulatory regimes, strengthening co-operation between the two, including the provision of assistance where necessary, and establishing dialogue to achieve these aims.
This should help to make market access to the respective jurisdictions easier to achieve.
