Canada & China sign Financial Governance Agreement in Beijing
Beijing— François-Philippe Champagne and Tiff Macklem are in China, where Canadian officials have signed what is described as a “global financial governance agreement” with the Chinese Communist Party, according to a joint statement released Friday.
The agreement coincides with the launch of a new Canada–China Financial Working Group (FWG), aimed at strengthening bilateral cooperation on financial and economic issues. The initiative follows commitments made during Mark Carney’s official visit to China earlier this year.
The inaugural FWG meeting was held in Beijing on April 3 and included a joint roundtable with financial institutions from both countries. Pan Gongsheng co-chaired the meeting alongside Champagne.
According to the joint statement, the framework establishes a structured channel for dialogue on financial and monetary policy, regulatory coordination, financial stability, anti-money laundering efforts, cross-border capital flows, and broader global financial governance.
Senior officials from major financial and regulatory bodies on both sides participated, including representatives from the People’s Bank of China and Canadian institutions such as the Bank of Canada and the Department of Finance.
Officials said the discussions focused on global economic conditions, financial market developments, and the need for closer coordination amid rising uncertainty. Both sides emphasized the importance of financial sector cooperation in supporting economic growth and facilitating bilateral trade and investment.
The two countries agreed to continue regular engagement through the working group, with the next meeting expected later this year.
