China, France Pledge Closer Economic Cooperation

What’s new: China said it is willing to support French financial institutions in investing and issuing bonds in the nation, as both countries agreed to more cooperation in banking and the financial markets, according to a bilateral dialogue agreement on Monday.

As part of the pledges, both sides welcome the increasing presence of a qualified French bank in China’s consumer finance market. They also expressed a willingness to facilitate the acquisition of a consumer finance company by the selected French bank and its Chinese partner, a statement on the dialogue said, without naming the bank.