The MOU also provides for the exchange of information that is necessary to support effective anti-money laundering supervision of financial institutions. Ladies and Gentlemen; money laundering and terrorism financing have far reaching implications on the credibility and stability of the financial system as well as to national security. I therefore applaud BDO and its partner 3i InfoTech for their pro-activeness in developing AML/CFT solutions.
Fourth, the opening-up of China’s financial sector can play a role in supporting and promoting BRI development. In particular, the development and opening-up of local currency bond market effectively mobilize long-term capital and mitigate currency mismatch risk. Increased use of local currency helps reduce exchange rate and currency mismatch risks. Fifth, the green development philosophy will be practiced.