PBOC Deputy Governor Lu Lei Attends 52nd EMEAP Working Group on Payment and Market Infrastructure Meeting

Deep News10-29

Recently, the People's Bank of China (PBOC) hosted the 52nd Working Group on Payment and Market Infrastructure (WGPMI) meeting of the Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) in Wuxi, Jiangsu Province. PBOC Deputy Governor Lu Lei attended the meeting and delivered a speech.

Lu Lei noted that in recent years, significant progress has been made in regional payment and market infrastructure development, payment service market expansion, and regulatory mechanisms, thanks to the continuous efforts of WGPMI members. These advancements have strongly supported regional economic growth. The PBOC will continue to uphold the principles of openness, cooperation, and mutual benefit, further enhancing coordination and collaboration among members in payment system development and supervision to elevate regional payment and market infrastructure to a higher level.

During the meeting, participants exchanged views on achievements in payment and market infrastructure, cross-border payment connectivity, fraud prevention and monitoring, and future work plans.

Representatives from central banks and monetary authorities of 11 economies in the East Asia-Pacific region, totaling 49 attendees, participated in the meeting. Representatives from the Bank for International Settlements (BIS) Innovation Hub, China Payment and Clearing Association, and SWIFT also joined discussions on selected topics.

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