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China, ASEAN and Neighboring Countries Hold Financial Regulatory Seminar in Nanning, Focus on Cross-Border Risks and AI
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China's National Financial Regulatory Administration (NFRA) held a seminar on financial regulatory cooperation with ASEAN and neighboring countries in Nanning, Guangxi, from September 17-18. The event, held during the China-ASEAN Expo as a sub-forum of the China-ASEAN Financial Cooperation and Development Forum, brought together over 30 representatives from 12 countries and regions including China, Brunei, Indonesia, the Philippines, Singapore, Thailand, Vietnam, South Korea, Mongolia, and Nepal, as well as the ASEAN+3 Macroeconomic Research Office. Discussions focused on strengthening regional regulatory cooperation to address cross-border financial risks, and the application scenarios and regulatory approaches for artificial intelligence in the financial industry. Participants shared updates on their countries' financial sector developments, risks, and regulatory concerns, with industry representatives sharing experiences in AI applications. The ASEAN+3 Macroeconomic Research Office provided insights on regional economic and financial conditions, prospects, and risk challenges. Attendees agreed that Asia's regional economy and finance remain generally stable, but that rapid technological developments like AI are deeply impacting financial operations and altering cross-border risk manifestations and transmission. Regulators agreed to deepen cross-border cooperation to jointly address risks. The NFRA stated it will continue to strengthen exchanges and cooperation with ASEAN and neighboring countries to enhance regional financial resilience and prevent cross-border financial risks.
Source report
Source: Dahe Finance Cube
According to the official website of the National Financial Regulatory Administration (NFRA), the China-ASEAN and Neighboring Countries Financial Regulatory Cooperation Seminar was held on September 17–18 in Nanning, Guangxi.
The seminar brought together more than 30 representatives from financial regulatory authorities of 12 countries and regions, including China, Brunei, Indonesia, the Philippines, Singapore, Thailand, Vietnam, South Korea, Mongolia, and Nepal, as well as the ASEAN+3 Macroeconomic Research Office (AMRO).
Key Topics and Discussions
Held on the sidelines of the China-ASEAN Expo, the seminar served as a sub-forum of the China-ASEAN Financial Cooperation and Development Forum. Discussions focused on:
- Strengthening regional regulatory cooperation to address cross-border financial risks
- Application scenarios of artificial intelligence (AI) in the financial sector
- Regulatory approaches to AI in finance
Regulatory representatives shared updates on the latest developments, risks, and regulatory priorities in their respective financial sectors. Industry representatives presented practical experiences in applying AI technologies within financial institutions. AMRO representatives provided insights into the current state, outlook, and risk challenges of regional economic and financial development.
Consensus and Outcomes
Participants reached a consensus that:
- The Asian regional economy and financial system remain generally stable
- The rapid development of new technologies, particularly AI, is profoundly reshaping the operational model of the financial industry
- These changes are altering the forms and transmission mechanisms of cross-border risks within the region
- Regulatory authorities should continue to deepen cross-border regulatory cooperation to jointly address risks and challenges
Attendees noted that the seminar provided a strong platform for financial regulators from China, ASEAN, and neighboring countries to share regulatory information, exchange experiences and practices, enhance mutual trust and understanding, and deepen regulatory cooperation.
Next Steps
The NFRA stated that it will continue to consolidate and deepen exchanges and cooperation with financial regulatory authorities in ASEAN and neighboring countries. The goal is to jointly enhance regional financial resilience, strengthen cross-border financial risk prevention, and create a favorable regulatory environment for regional financial cooperation.
Editor: Yue Yanlin Reviewer: Li Zhen Supervisor: Gu Zheng
Source
大河财立方Eastern
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China, ASEAN and Neighbors Hold Financial Regulatory Seminar on AI and Cross-Border Risks