CBA to Establish Asian Financial Cooperation Organization

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  • ANTARA/Widodo S. Jusuf

    ANTARA/Widodo S. Jusuf

    TEMPO.CO, Jakarta - The China Banking Association (CBA) is mulling to establish an Asian financial cooperation network. "When ready, this non-governmental institution will promote secure and healthy Asian financial growth," said CBA deputy chairman Yang Zaiping on Monday. 

    According to Zaiping, the global economy has developed in an unbalanced way as evident in trade, finance, regulation drafting and global governance as well as Asian economic growth that can help reduce imbalances. This organization will help Asia to play more roles in the international financial system. 

    Zaiping spoke during the Asian Cooperation Dialogue (ACD) in Fuzhou, Fujian Province, which was formed in June 2002 in Cha-Am, Thailand to build an Asian community without duplicating other organizations or establishing a block against others. 

    ACD this year is focused on belt and road initiatives proposed by China in 2013, referring to the Silk Road Economic Belt and Maritime Silk Road, trade projects and international infrastructure projects.