The Yangtze River Delta Financial Cooperation Forum and the 2018 Pudong-Nanjing Financial Exchange Conference was held in Nanjing on Dec 20.

The theme of the forum was "strengthening regional financial cooperation and promoting financial integration in the Yangtze River Delta region."

The event was sponsored by the Pudong New Area Financial Services Bureau, the Nanjing Financial Office and the Jianye district government.

At the conference, 11 cities and districts including Pudong, Nanjing, Huai'an, Yangzhou, Zhenjiang, Taizhou, Suqian, Wuhu, Ma'anshan, Zhangzhou and Xuancheng signed a framework agreement for promoting financial integration in the Yangtze River Delta region.

The agreement aims to give full play to the advantages of inter-governmental cooperation, create a good environment for the growth of the financial industry, seek common development and welcome a new era featuring financial cooperation and sharing in the Yangtze River Delta.

According to the agreement, cities and districts within the Pan-Yangtze River Delta region should conduct in-depth cooperation to strengthen local financial regulatory ties, support financial institutions to exchange and cooperate, and prevent regional financial risks.

All parties should strengthen exchanges and share experience in overall financial planning, spatial layout, commercial support, institutional environment and government services, create a good financial service environment, and promote the rapid and healthy development of the financial industry.

Meanwhile, they should encourage various financial institutions and financial professional service organizations to set up branches and cooperate with businesses. 

They should actively interact with each other in the background construction of financial institutions and various types of emerging financial businesses, and jointly improve local financial systems. 

They must also establish a linkage mechanism for the prevention of illegal fund-raising in the region and rectification of Internet financial risks and closing of illegal trading venues.

All parties should promptly remind clients of potential risks and establish ways to identify signs of illegal financial activities. They should provide for notification and collaborative processing mechanisms to strengthen joint prevention and control of cross-regional financial risks, and prevent cross-industry and cross-market risk transmission.  

The Yangtze River Delta Financial Cooperation Forum and the 2018 Pudong-Nanjing Financial Exchange Conference is held in Nanjing on Dec 20. [Photo/chinanews.com]

China Pilot Free Trade Zone in Shanghai. [Photo/VCG]