Asian Financial Cooperation Association
Financial Services - , Beijing, China
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Asian Financial Cooperation Association Details
Asian Financial Cooperation Association (hereinafter referred to as "AFCA") is a regional non-governmental and non-profit organization registered with China's Ministry of Civil Affairs, comprising financial institutions, financial industry associations, relevant professional service agencies and experts of the financial sectors from Asian countries and regions on a voluntary basis. Initiation and EstablishmentPresident Xi Jinping first proposed to explore the possibility of establishing a communication and cooperation platform for Asian financial institutions at Boao Forum for Asia 2015. Premier Li Keqiang has then, on various occasions including Leaders' Meetings on East Asia Cooperation, Boao Forum for Asia and ASEAN Plus Three (China, Japan and the ROK) Leaders' Meeting, expressed that China actively supports the establishment of AFCA.This initiative has obtained wide attention and active response from the international financial community. On March 25, 2016, 38 financial institutions in 12 countries and regions from Asia, Europe and America attended AFCA Originating Institutions' Meeting in Hainan and signed Letter of Intent for Originating the Asian Financial Cooperation Association. On May 11, 2017, the Working Meeting on the Establishment of Asian Financial Cooperation Association was held in Beijing, during which 13 proposals were reviewed and passed, including Articles of Asian Financial Cooperation Association, Recommendations and List for First Term of Directors, Supervisors and Senior Executives of Asian Financial Cooperation Association. The successful conclusion of the working meeting indicated that the preparatory work of AFCA had been largely completed. The establishment of AFCA was listed into the achievements of Belt and Road Forum for International Cooperation.
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