Meanwhile, 2001 also witnessed a strengthening in the relations between the ECB and China. Following the visit of the PBC delegation headed by Governor Dai to the ECB in June, we agreed to establish a regular dialogue between the two central banks so as to enhance our co-operation on issues of common interest.
Towards the end of the year, our Vice-President, Mr. Noyer, was invited twice by the Delegation of the European Commission in China (once to Beijing in November and once to Shanghai in December) to speak on the subject of the euro cash changeover.