At the meeting, Deputy Governor Dao Minh Tu warmly welcomed the working visit of Mr. Liu Mingkang to the SBV. He highly appreciated the traditional relations between the two countries as well as the economic and commercial cooperation between Vietnam and China. He also mentioned that the collaboration between the two countries in the banking sector over the past time has had encouraging progresses such as the recent signing of the Memorandum of Understanding (MoU) on cooperation and information exchange in the banking supervision and inspection by the SBV and the China Banking Regulatory Commission, which replaces the MoU signed in 2008. The SBV Deputy Governor asserted that this MoU will facilitate further cooperation between the two entities, support the inspection and supervision of the two sides at financial institutions with cross-border presence, thereby contribute to ensuring safe and sound operations of those institutions for the economic development of the two countries. Moreover, he briefed the guest of socio-economic situations in Vietnam, operations of the banking sector as well as the tasks of management, inspection and supervision at commercial banks and financial institutions in Vietnam.

For his part, Mr. Liu Mingkang spoke highly of the encouraging achievements that Vietnam’s banking sector has made over the past time. Giving comments on the Banking Supervision Agency, he said that the 2-levelled organizational model of this Agency (at the SBV headquarters and SBV branches in the provinces) is appropriate and convenient for the implementation of its functions, tasks and powers in relation to the management, inspection and supervision of credit institutions.

In addition, the two sides discussed and exchanged their information on, inter alia, the completion of organizational structure models of banking supervision agencies, the enhancement of information sharing on banking supervision and inspection, and the development of the IT infrastructure.

Le Hang