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第五次中法高级别经济财金对话联合情况说明

2017年12月1日 来源:国际经济关系司

  主题:为紧密持久的中法经济财金战略伙伴关系注入新动力

  中法高级别经济财金对话是就中法经济财金领域的战略性、全局性、长期性问题进行双边沟通和政策协调的关键平台。前四次对话分别于2013年11月、2014年9月、2015年9月和2016年11月举行,为拓展和深化中法全面战略伙伴关系做出了重要贡献。

  当前,中国共产党第十九次全国代表大会决定贯彻新发展理念,建设现代化经济体系,推动经济高质量发展,法国新政府致力于重新焕发法国经济活力,这为中法经济财金合作带来了新机遇。在此背景下,第五次对话于2017年12月1日在北京举行,由中国国务院副总理马凯与法国经济和财政部长布鲁诺·勒梅尔共同主持,双方高级官员就推动宏观经济政策合作和全球经济治理进程、加强贸易投资和产业合作、深化金融合作,以及应对气候变化和基础设施投融资相关的全球性挑战进行了深入探讨,以创新思维不断强化紧密持久的中法经济财金战略伙伴关系。对话期间,双方达成以下共识:

  一、 宏观经济政策和全球经济治理

  1.双方重申将在二十国集团(G20)框架下加强沟通协调,支持G20作为国际经济合作主要论坛发挥重要作用,并推动G20在国际经济金融治理中发挥更积极的作用。中法双方愿同其他G20成员一道,在多边层面加强宏观经济政策协调,创新世界经济增长方式,进一步完善全球经济金融治理,减少过度全球失衡,以支持全球增长,重振贸易投资引擎作用,努力确保公平竞争环境,特别是建设一个有利的贸易和投资环境,推动世界贸易组织(WTO)第十一次部长级会议成功举行,推动包容和联动式发展,应对影响世界经济的其他重大全球性挑战,如不平等、数字化、气候变化、恐怖主义和腐败,继续为构建创新、活力、联动、包容的世界经济做出贡献。双方重申维护开放、富有韧性的、包含强劲高效且具有代表性的全球经济金融机构的金融体系、构建公平、现代化国际税收体系的重要性。双方一致认可多边开发机构在此领域发挥的重要作用以及取得其他G20成员支持的必要性。双方将推动完善国际金融监管,使所有的金融市场、产品和参与者都能处于适当的管理或监管之下。

  2.当前经济增长前景令人鼓舞,尽管增长速度仍弱于预期,全球化和技术变革为带动全球经济增长和提高人民生活水平做出了巨大贡献。然而,全球化也带来了挑战,其益处未被充分广泛共享。在此背景下,双方重申积极落实G20杭州峰会达成且在G20汉堡峰会得到重申的共识。双方承诺各自以及共同使用所有政策工具,包括货币、财政和结构性改革政策,以实现强劲、可持续、平衡和包容性增长目标。双方重申致力于实施G20加强结构性改革议程,并欢迎经济合作与发展组织(OECD)提交的关于G20结构性改革进展的第一份技术报告以及国际货币基金组织(IMF)提交的关于强劲、可持续和平衡增长的新的试点报告。双方共同重申对G20关于汇率承诺的重视,包括避免竞争性贬值。

  3.中国经济已由高速增长阶段转向高质量发展阶段。今年以来主要宏观经济指标好于预期。未来一个时期,中国政府将坚定不移地贯彻新发展理念,推动经济发展质量、效率和动力变革,提高全要素生产率,着力解决发展不平衡不充分的突出问题,不断增强中国经济创新力和竞争力。

  4.法方正在振兴欧盟框架内推动强劲、可持续和平衡的经济增长。法国政府进一步从三方面推进改革战略,确保公共财政的可持续性,通过显著改善商业环境提高竞争力和吸引力,提高劳动力市场灵活性。该战略还旨在解决不平等问题,特别是通过采取支持教育体系和职业培训的相关措施减少不平等。

  5.双方重申巴黎俱乐部作为官方双边债务重组主要国际平台的作用和支持其在主权债务问题方面开展的工作。双方欢迎巴黎俱乐部将其成员范围扩大到新兴债权人。中方愿意继续常态性参加巴黎俱乐部会议,并发挥更具建设性的作用,包括进一步讨论潜在的成员身份问题。为在控制低收入国家主权债务增长的同时保证其获得充分的市场融资,双方强调促进合理且可持续的融资实践。鉴此,双方对《G20可持续融资操作指南》表示欢迎,并鼓励官方及私人债权人和债务人在考虑本国国情的基础上落实该指南。

  6.双方致力于加强在IMF框架下的合作,继续改善IMF份额及治理架构。双方正在努力争取尽早完成第15次份额总检查,并支持进一步提高IMF贷款工具的有效性。双方重申份额的再调整应使有活力的经济体占比与其在世界经济中的相对地位一致,提升新兴市场和发展中国家份额,保护最不发达经济体的发言权和代表性。更广泛地,双方支持进一步巩固强劲的、资源充足的、以份额为基础的、以IMF为中心的全球金融安全网。

  7.双方重申将严格遵守金融行动特别工作组(FATF)制定的反洗钱和反恐融资标准。双方认识到FATF在应对反洗钱和反恐融资威胁过程中起到长远且关键的作用,支持FATF向法人转型。双方欢迎中法央行即将签署的双边反洗钱谅解备忘录。双方同意推动反洗钱信息交流与监督合作。双方承诺继续在G20反腐败工作组(ACWG)等框架下开展合作。

  8.双方同意继续保持密切合作,采取措施应对跨境逃避税。双方将继续支持G20关于提升税收透明度和落实自动情报交换的承诺,呼吁所有辖区遵从透明度国际公认标准以及按照承诺的时间交换税收信息。双方将继续支持OECD更新在落实税收透明度国际公认标准方面未能取得令人满意进展的辖区名单。并将考虑对上榜辖区采取防御性措施。

  9.双方将继续致力于提升税收确定性,并与OECD一同致力于应对经济数字化给税收带来的挑战。双方同意在落实G20/OECD 税基侵蚀与利润转移行动计划方面继续加强沟通合作。这一项目的有效性取决于广泛和连贯的落实。双方承诺通过多种方式帮助发展中国家,尤其是低收入国家加强税收政策和征管能力建设。

  10.双方一致同意在落实《2030年可持续发展议程》和《亚的斯亚贝巴行动议程》方面保持密切沟通和合作。双方承诺进一步采取行动,在本国及国际范围落实《2030年可持续发展议程》及其组成部分——关于发展筹资的《亚的斯亚贝巴行动议程》,包括支持发展中国家和提供公共产品。

  11.双方重申支持以WTO为核心的、以规则为基础的、开放、包容、透明、非歧视的多边贸易体制。双方强调在政治上和经济上确保各国和各地区及其内部分享国际贸易红利,人人从全球化获益。为此,应维护WTO的核心价值观和基本原则,就贸易政策开展适当协调,并辅之以高雄心水平的与贸易调整相关的财政政策。双方致力于推动WTO与时俱进,敦促所有成员一道,全面、透明、有效、及时地履行WTO规则。双方同意推动取消所有贸易扭曲行为。

  12.双方一致认为,WTO所有成员应履行WTO规则,提升贸易合规水平,尤其是在贸易透明度和补贴通告方面,应提升合规能力,维护多边体制的权威性和有效性。双方愿与其他WTO成员一道,为即将在布宜诺斯艾利斯举行的下一届部长级会议取得均衡且有意义的积极成果而共同努力。

  13.双方同意一个共同的官方支持出口信贷框架将有利于促进国际贸易繁荣。因此,双方重申支持出口信贷国际工作组在制定一套新的官方支持出口信贷国际指导原则方面开展磋商工作。出于这一考虑,双方全力支持秘书长按照各方同意的授权开展工作,并对邀请参加技术工作小组表示欢迎,以推动一般规则磋商在2018年及以后取得持续进展。

  14.双方认识到来自政府或政府资助机构的补贴或其他形式的支持将导致市场扭曲,并导致工业部门的全球产能过剩。双方欢迎钢铁产能过剩全球论坛在柏林举行的部长级会议取得的成果,并将根据全球论坛达成的共识采取必要行动。双方重申将致力于在阿根廷任G20主席国期间继续开展钢铁产能过剩全球论坛相关工作,以解决相关问题。

  15.(1)双方欢迎多边开发银行在优化资产负债表、加大对基础设施和互联互通领域的投资以及动员私人资本方面所做的工作,后者主要是考虑到公共资源的不足以及私人部门在可持续经济发展中的重要作用,同时保证资金的附加值以及物有所值。

  (2)双方支持世界银行以逐步实现平等投票权为目标,根据既定的路线图和方针完成股权审议。

  (3)双方同意加强在亚洲基础设施投资银行(以下简称亚投行)框架下的协调与合作,与其他成员一道,共同将亚投行打造成21世纪的新型多边开发银行。双方一致认为,亚投行在促进亚洲地区实现可持续、低碳、适应气候变化的经济发展(尤其是在《巴黎协定》框架下)以及改善基础设施互联互通方面发挥着重要作用,特别是通过与在本地区开展业务的其他多边开发机构(如法国开发署)合作共同发挥作用。尤其要指出,双方欢迎亚投行和法国开发署之间的合作,两家机构已于2017年7月12日签署合作意向书。根据《巴黎协定》和可持续发展议程,亚投行和法国开发署在推动可持续发展、促进低碳及适应气候变化投资等方面具有共同利益。双方将通过在各自金融活动允许、符合各自战略及政策的国家内开展联合融资加强合作,应对地区发展挑战。

  二、 贸易投资和产业合作

  16.中国和欧盟之间拥有世界上体量最大且最具活力之一的贸易合作关系,双方将致力于促进全球贸易自由化,推进以WTO为核心、以规则为基础的贸易体系。双方重申在互惠互利和非歧视原则基础上坚持自由公平贸易。

  17.双方重申中法经贸混委会在促进双边贸易和投资、反对贸易保护主义、为企业改善市场准入和基础条件、发展双边新领域合作的重要性。双方正在筹备2018年召开混委会第25次会议。双方同意将继续致力于提升双边贸易水平,努力清除贸易障碍,扩大出口。

  18.为进一步落实两国元首共识,深入推动两国企业在更高层次上合作,双方同意将建立中法企业家委员会机制,搭建重要合作领域企业家建言献策的平台,双方企业家通过定期参与正式或非正式访问、参加中法企业家委员会会议,切实推动中法经贸务实合作。中法企业家委员会的相关工作可在中法高级别经济财金对话上进行讨论商议。

  19.农产品贸易方面,过去两年来,双方就法国肉类企业及婴儿配方奶粉企业在华注册开展了大量合作和多轮信息交流。中方承诺于2017年底前提交中国国家认证认可监督管理委员会2015年11月对法国猪肉及婴儿配方奶粉企业的考察报告,并批准符合要求的企业在华注册。双方认识到开放对优质产品的市场准入符合双方利益,同意法国产品进入中国饲料市场。法方欢迎中方解除了法国疯牛病禁令。在此基础上,考虑到法国高水平的动物卫生控制体系,中方愿意加快法国牛肉输华市场准入程序。

  20.双方同意,加强互惠开放对促进双边长期动态的投资流动至关重要。双方重申要加紧努力就中欧之间雄心勃勃的全面投资协议进行谈判,其中包括投资保护、市场准入等进一步促进投资的因素。

  21.双方欢迎能够创造就业和促进增长的外商直接投资。中国重申愿意实施有效步骤推进市场自由化。按照中国共产党第19次全国代表大会及国务院第5号、第39号文件的精神要求,中国将全面实行准入前国民待遇加负面清单管理制度,大幅度放宽市场准入,凡在中国境内注册的企业,都会一视同仁、平等对待。中国将于2018年举办首届中国国际进口博览会,中方欢迎法方来华参展参会。

  22.双方同意在《中华人民共和国政府和法兰西共和国政府关于知识产权的合作协定》以及其他相关双边合作协议和机制框架下,进一步加强在知识产权领域的双边合作和相互理解。本合作旨在创建更好的创新环境并惠及知识产权用户和公众。

  双方将于2018年在华举行中法专利混委会,分享在知识产权创造、运用、保护、管理和服务方面的最佳实践。双方同意在各自辖区,依据各自法律,进一步协助对方企业解决商标注册障碍,为双方经贸发展提供良好的知识产权环境。

  双方将继续共同努力,为两国的知识产权用户和公众提供更好的服务。双方同意帮助两国企业在对方国家保护和实施知识产权。

  双方将合作加强两国地理标志的法律保护和有效执法体系,双方愿意积极推动《中欧地理标志协定》的谈判。

  双方同意加强在知识产权保护和执法方面的合作。双方同意就通过欢迎建立在线知识产权保护标准相关倡议来营造基于信任的数字环境进行交流。双方将继续欢迎就电子商务、社交媒体平台和搜索引擎等提出倡议,以合理的最大努力采取适当、主动和预防性的措施,利用现有的信息、技术和资源,防范涉嫌侵犯知识产权的行为。

  23.双方同意进一步加强出口管制领域的交流与合作,便利和扩大双边高技术贸易。

  24.(1)双方欢迎由中国能源局和法国生态转型部于11月30日举行的首次中法能源对话。该机制将分享能源政策方面的经验,并定期回顾在该行业的合作。双方同意建立定期沟通机制,起草未来能源合作工作计划,其成果将报告给中法高级别经济财金对话。中国国家能源局和法国核电标准规范协会(AFCEN)将在中法高级别经济财金对话期间签署《中法核电标准规范合作协议》,以推动双方在核电规范和标准领域的合作。

  (2)中法两国政府重申支持负责任地发展和利用核能,并及时落实2015年6月30日中华人民共和国国务院总理李克强访法期间,两国政府在巴黎发表的《中法两国深化民用核能合作的联合声明》。双方欢迎在落实联合声明上取得的进展。双方欢迎欣克利角C项目的开工建设和华龙一号(HPR1000)在英国启动通用设计评审。法方将继续鼓励法国电力集团为华龙一号核反应堆设计提供支持,并协助其完成英国相关管理机构的认证。双方将鼓励两国企业在互利基础上,就共同开发第三国核电项目展开讨论。双方将继续致力于台山核电项目1号机组的建成和运行,共同推进这一重要的能源合作项目。

  (3)双方重视核燃料闭式循环在核能可持续发展中的重要作用,同意就中国的后处理/再循环工厂项目努力加强磋商,并将尽快完成交易谈判。马克龙总统即将对中国进行的访问将是再次确认这一努力的重要里程碑。双方将继续在中国国家原子能机构和法国原子能委员会的第十二个和平利用核能协定框架下深化核领域的研发合作。双方对中核集团与新阿海珐集团签署的产业和商业合作框架协议表示欢迎,该协议旨在将合作领域扩展到核燃料循环全产业链,展示了双方强有力的伙伴关系。双方将在平衡互利的基础上,在该协议下开展务实高效的合作。

  (4)双方将继续加强在风电、太阳能等可再生能源领域的合作,共同推进两国低碳经济的发展。

  25.中国和法国正在实施跨行业战略——《中国制造2025》和“未来工业”计划,以促进创新,加快各自产业的现代化和数字化。双方致力于加强中国工业和信息化部与法国经济和财政部企业总署在中法合作机制联委会框架下的合作,支持中法产业合作项目和经验,鼓励双方企业、大学和研究机构进行务实交流与合作。这种合作将在平等和自愿的基础上进行,并尊重商业机密。双方欢迎《中国制造2025》和“未来工业”计划框架下的工业合作示范性项目中的五个工业项目和两个教育培训项目。许多产业和学院的示范性项目正在讨论之中,双方对此表示满意。双方将继续共同确定并公布新的示范项目清单。双方支持中国工业和信息化部国际经济技术合作中心和法国未来产业联盟共同推动建立中法工业合作战略联盟。

  26.双方欢迎两国创新型企业的深入联系和交流,包括初创企业及成熟企业。双方欢迎法国科技中心牵头的“F2”项目,鼓励两国对此感兴趣的初创企业,投资者,研究人员和公司参与其中。

  27.双方强调航空工业领域互利互惠的双边合作,空客在天津的相关合作正是这种合作的体现。2017年9月双方喜迎空客A330宽体客机完工,交付中心落成在A320总装线之侧。双方支持空客与其中方合作伙伴就进一步推动包括A330、A350和A380在内的宽体机合作展开讨论。

  28.双方同意按照已签署的双边谅解备忘录,完成中法天文卫星和中法海洋卫星的研制,并按照2014年8月签署的天文卫星备忘录和2015年1月签署的海洋卫星备忘录,保证按时发射。2017年5月成功举办的第十一届中法空间合作联委会提出双方应重点围绕空间探索和气候变化两个主题加强合作。双方将通过联合工作组进一步探索可能的合作模式,并在2018年签订一个合作协议,将特别重视包括但不限于在气候科学研究和应对气候变化方面发挥作用的卫星合作(例如中法海洋卫星),其中应对气候变化是《联合国气候变化框架公约》第二十一次缔约方会议(COP21)《巴黎协定》中双方强调的优先领域。双方将进一步推动中法航天领域的后续合作,促进中法航天合作可持续发展。

  29.汽车工业在加强中法两国关系中发挥了重要作用。双方认同透明公平原则在实施产业政策中的重要性。双方也致力于鼓励开发生产绿色、智能车辆,促新能源汽车、网联汽车领域开发的最佳和最新技术在两国的应用。双方同意在互惠互利的基础上,依照中国、欧盟和法国的法律,促进实施双方企业在这些领域开发的技术解决方案,包括电驱动系统和技术。双方欢迎汽车工业双边工作组的最近一次会议。同时也欢迎中国汽车技术研究中心和法国汽车标准化局关于全球标准和规范的深入交流,支持他们签署协议,这将标志着,在多边标准化机制下两国立场协调方面双方迈出重要一步。法国和中国也强调在交流新能源汽车和自动驾驶法规方面的共同兴趣,并期待在下次双边会议中深化相关讨论。

  30.双方将基于2013年的共识继续开展标准化领域的合作,特别是电子医疗、老年经济、农业食品、智慧城市/可持续发展和铁路等领域。双方将进一步深化法国未来工业和中国制造2025框架下的标准化合作,拓展在民用航空、电子医疗等领域的标准化合作,并在国际标准化组织环境管理技术委员会(ISO/TC 207)框架下,开展气候和金融的新合作。中国国家标准化管理委员会和法国国家标准化机构将于2018年下半年在中国举行下一届中法标准化合作委员会会议。基于此前合作的良好经验,法国国家标准化机构机构负责人继续担任中国标准化专家委员会顾问,分享经验、建言献策,助力中国标准体系更好的应对中国经济升级和国际化所带来的新挑战。

  31.中法海关在情报交换、行政互助和反商业瞒骗等执法合作领域取得了显著进展。双方将加强人员交流,认真落实中法海关2017-2021年技术合作文件,深入开展打击商业瞒骗、假冒侵权以及有害废物走私等合作,营造健康有序的贸易环境。此外,双方海关将继续积极参与中欧海关间安全智能贸易航线试点项目第三阶段合作、知识产权保护以及“经认证的经营者”互认合作,加强跨境电子商务领域海关合作,促进中法、中欧的贸易安全和便利。

  32.双方同意继续加强两国财金智库间的交流合作。双方欢迎中国国务院发展研究中心与法国国家战略和预测总署继续轮流在两国举办中法研讨会,就国际宏观经济政策协调等共同关心的议题开展交流研讨。

  三、 加强中法金融合作

  33.双方强调巴黎金融市场作为领先的金融市场和欧元区主要投资门户的重要作用。法国政府部门和金融市场主体正在实施的举措将进一步提高巴黎金融市场的竞争力。双方欢迎通过《金融行动计划》,在专业知识共享和互利共赢的基础上确定未来金融领域合作的方向。

  34.双方欢迎巴黎离岸人民币市场作为欧元区开展人民币计价业务的重要和领先中心的持续发展。双方欢迎中法各类发行主体在中国在岸市场和法国离岸市场发行人民币计价债券。双方鼓励法国机构投资者和企业利用双方金融机构在巴黎提供的人民币计价的银行和金融服务,进一步参与离岸人民币业务。双方鼓励法国巴黎欧洲金融市场协会(EUROPLACE)采取措施推动法国金融机构和企业(包括中小企业)在贸易融资以及市场交易、外汇交易和贸易活动,包括中非贸易中使用人民币,以增强巴黎作为领先的欧洲离岸人民币中心之一的地位。双方积极鼓励中国金融机构和企业在巴黎离岸发行更多人民币计价证券。

  35.双方鼓励中国银行间和交易所市场的中介机构及金融市场基础设施,如中国外汇交易中心(CFETS)、上海清算所、沪深交易所、中央结算公司(CCDC)等,利用巴黎中介机构作为欧元区人民币业务的枢纽, 通过与法国中介机构和金融市场基础设施的合作,参与欧洲离岸人民币市场的发展。双方鼓励各自市场参与者在发行离岸人民币证券时使用由中国市场基础设施和诸如泛欧交易所(Euronext)、法国欧洲清算所(Euroclear France)等法国市场基础设施合作提供的服务。

  36.法方非常欢迎中国人民银行发布﹝2016﹞3号公告,推动中国银行间债券市场对外开放。法方认识到熊猫债市场的巨大潜力,并将鼓励法国机构发行熊猫债。双方非常欢迎中国银行间市场交易商协会(NAFMII)和法国巴黎欧洲金融市场协会(EUROPLACE)展开卓有成效的合作,以及中国人民银行、法兰西银行、中国证券监督管理委员会和法国金融市场管理局2017年12月1日于北京联合举办第四届中法金融论坛,就宏观审慎政策和金融市场开放、资产管理:资本市场服务实体经济新路径、新金融:绿色金融和绿色科技等三个领域加强合作。法方非常欢迎一家活跃的法资银行被授予中国银行间债券市场非金融企业债务融资工具承销商资格,同时,欢迎中方基于公平、公开、公正原则开展市场化评价,积极考虑授予法资银行承销商资格,包括熊猫债主承销商资格。

  37.鼓励中国金融机构和企业利用巴黎金融中心在欧元区的领先地位发行欧元债。

  38.双方认识到法国机构投资者是最大的合格境外机构投资者(QFII)和人民币合格境外机构投资者(RQFII)之一,同意继续合作帮助法国投资者充分利用QFII和RQFII制度安排。特别是,中方欢迎更多法国机构申请RQFII资质,并同意适时增加法国的RQFII额度。双方重申积极履行法国金融市场监管委员会和中国银监会在2014年签署的合格境内机构投资者(QDII)协议中涉及中国商业银行代客境外理财业务的承诺。中方欢迎符合条件的法国银行备案成为QFII托管人,以便开展境内托管业务并增加在中国的证券投资,特别是股票投资。

  39.中方欢迎法国监管机构部分豁免对中资银行巴黎分行的审慎监管要求。基于对等原则,在法资银行在华分行适用相关审慎监管要求的情况下,法方可考虑进一步豁免关于资本充足率的审慎监管要求。

  40.双方欢迎中国证监会和法国金融市场管理局的合作成果,特别是双方为维护市场公正和保护投资者,在资产管理和信息共享领域所取得的成果。中国证监会和法国金融市场管理局认识到必须警惕金融体系中重要、新兴的风险与脆弱性。双方重申承诺将在双边和国际论坛加强合作,对上述风险与脆弱性进行有效评估与监测。中国证监会和法国金融市场管理局同意分享市场监管和执法经验,防范打击市场滥用行为。除资产管理行业监管外,双方同意进一步加强对话机制,增进在衍生品市场、上市公司及其市场融资、金融服务创新和投资者保护等更广泛领域的相互了解。中国证监会和法国金融市场管理局同意在绿色金融和可持续金融领域进行经验分享,就各自在非财务信息披露等方面的监管实践开展交流。

  41.双方欢迎两国官方和资产管理界卓有成效的合作。双方支持法国金融市场管理局与中国证监会开展对话,为推动两国资产管理行业发展积极互助和合作。中方欢迎法方分享在委托资产管理业务方面的经验。双方同意增进对彼此资产管理行业和相关监管制度的沟通与了解,为适时推动中国与法国的基金互认创造良好条件。双方承诺进一步便利两国行业机构在对方国家设立资产管理公司。为落实中国共产党第十九次全国代表大会关于进一步扩大对外开放的决策部署,中方决定将单个或多个外国投资者直接或间接投资证券、基金管理、期货公司的投资比例限制放宽至51%,上述措施实施三年后,投资比例不受限制。法方欢迎中方按照自己扩大开放的时间表和路线图,大幅度放宽证券基金业的市场准入,并期待法国基金管理公司可在适当时候参与合格境内有限合伙人(QDLP)和合格境内投资企业(QDIE)项目。双方欢迎法国资产管理公司在中国设立的外商独资公司向中国证券基金协会备案成为私募基金管理人。

  42.双方欢迎中国银行业协会(CBA)与法国银行业联合会(FBF)于2017年5月签署的《谅解备忘录》,以促进合作。

  43.法方欢迎中方将允许外资控股合资证券、期货公司的决定,期待有关政策尽早实施。法方认为,允许合格的法国银行通过参股设立合资证券、期货公司的形式在华发展衍生品业务,参与中国证券期货市场,有利于丰富中国投资者的投资选择,为更好地服务于实体经济做出贡献。

  44.中方欢迎法国银行分享其在证券化领域的专业知识,为中国证券市场的健康和可持续发展提供建议并做出贡献。

  45.为支持深化互利合作,双方将进一步加强证券期货市场跨境监管对话、合作与监管协作机制。双方同意加强人员交流与合作,并为双方金融当局之间短期工作人员交流提供支持和便利。

  46.中法两国银行监管当局同意进一步加强监管合作与交流。尤其是在防范系统性区域性风险、加强银行业机构合规管理及监管人员培训等方面进行协作。

  47.中国保监会愿与法国审慎监管局等监管部门在相关论坛中加强监管改革方面的沟通交流和经验分享,并进一步强化双方在国际保险监管改革中的交流合作。双方同意保持在长期护理和重大风险管理等领域的再保险合作。

  48.双方同意在互相尊重主权和对方国内法律法规的前提下,推动双边审计监管合作。双方在现阶段启动双边审计监管合作协议的磋商,相关安排可能包括相互依赖或信息交换等方式,计划在欧盟委员会完成对中国审计监管的适当性评估后签署。中法监管机构同意就双边审计监管安排达成一致,旨在促进债券市场联通,推动跨境债券发行。

  49.双方认识到金融科技为金融行业带来创新和增长潜力,欢迎建立更紧密的监管和政府间以及行业组织间合作关系,旨在按照相关法律法规加强风险防范的基础上,为金融科技类公司和传统公司开发创新服务营造良好环境,促进行业健康发展,并为投资者提供有效保护。

  50.双方愿在行为监管和消费者保护等重要问题上进一步加强沟通与合作,包括行为监管框架和工具、第三方争议处理机制、金融知识与教育、金融消费者保护评估以及金融科技背景下的消费者保护。

  51.中国人民银行和法兰西银行同意加强支付系统合作。作为参与泛欧实时全额清算系统II(TARGET 2)设计和运行的欧元体系中央银行之一,法兰西银行在设计降低流动性成本的支付系统(巴黎净额结算系统(PNS)、TARGET 2)方面拥有丰富经验,并愿意分享经验协助中国人民银行准备人民币跨境支付系统(CIPS)二期建设。中方认可巴黎是欧元区领先的外汇交易市场。双方同意支持中国银联与相关法国机构加强合作,法国当地银行开通更多商户受理中国银联卡并支持银联卡小额支付业务,包括发行银联卡商务卡及为特定客户群小规模贸易发行银联卡。法国将在尊重法国银行自主决定的基础上,鼓励其为银联卡持卡人提供便利和安全的环境。

  52.双方将进一步加强场外衍生品市场监管方面的合作,包括通过中国相关机构和欧洲清算所(Euroclear)的合作加强跨境抵押品管理服务,推动中欧达成合格中央对手方的监管互认,分享场外衍生品市场发展和监管经验等。双方支持中国和法国加强合作,促进监管政策对话与重大理论研究等。双方认识到健全的风险管理实践、流程和工具的重要性,承诺共同努力促使衍生品市场的进一步健康发展,为企业和金融机构提供有效的对冲机制以缓释风险。

  53.双方支持创新型中小企业发展,鼓励深交所与泛欧交易所在中小企业市场融资方面卓有成效的合作。期待不久的将来,在包括交流良好实践、指数和投资者路演活动等基础上发展合作,例如2016年在北京举行的“泛欧日”活动。泛欧交易所也愿与大连商品交易所开展合作。法国金融市场管理局和中国证监会欢迎泛欧交易所与深交所加强合作,并适时推动双方共同开展活动。

  54.上海市金融办和巴黎欧洲金融市场协会承诺通过持续交流实现更深入广泛的金融合作。双方将各自动员市场参与者,进一步支持对跨境和投资组合的投资(含上海自贸区内的投资),并通过发展各自的资本市场扩大金融合作。

  55.双方欢迎中国国务院设立重庆自贸区的决策,使重庆成为在中国西部的试点。在巴黎欧洲金融市场协会和重庆市金融发展服务中心签署的协议框架内,双方市场机构和学术界将探讨适度监管下的金融创新、自贸区内双向人民币跨境服务和自贸区内企业跨境融资。

  56.双方鼓励中国人民银行反洗钱监测分析中心与法国财政部金融情报中心在反洗钱和反恐融资等金融情报交换方面加强合作。双方欢迎2016年11月末在北京举办的研讨会和其后的密切沟通。双方鼓励金融情报部门视情跟进,以促进更深入的相互了解并促进合作。

  四、 共同应对气候变化融资和基础设施投融资相关的全球挑战

  57.中国和法国欢迎旨在实现《巴黎协定》全面和有效实施的国际推动力,并致力于尽最大努力在2018年前完成关于《巴黎协定》实施的工作规划。在此框架下,双方承诺平衡推进关于《巴黎协定》所有要素的工作计划,包括(i)减缓和适应行动,(ii)资金、技术和能力建设支持,(iii)行动和支持的透明度。双方重申《巴黎协定》旨在加强《联合国气候变化框架公约》及其目标的实施,不能被重新谈判。协定的履行应反映公平、共同但有区别的责任和各自能力原则,考虑不同国情。双方承诺将尽各自最大努力,与其他缔约方一道有效实施随时间推移逐渐增加的国家自主贡献,同时认识到需要支持发展中国家缔约方,以有效履行本协定。双方同意根据《巴黎协定》尽早编制并通报各自本世纪中叶长期温室气体低排放发展战略。在加强公约,包括其目标的实施方面,双方坚持在可持续发展和努力消除贫困的背景下,使资金流动符合温室气体低排放和气候适应型发展的路径。中法认同发达国家应为协助发展中国家减缓和适应两方面提供资金,以继续履行在公约下的现有义务,鼓励其他缔约方自愿提供或继续提供这种支持。双方再次呼吁发达国家兑现其到2020年每年为发展中国家减缓和适应气候变化联合动员1000亿美元的承诺。

  58.在《联合国气候变化框架公约》第二十一次缔约方会议(COP21)两周年之际,法国总统将于2017年12月12日在巴黎举行峰会以盘点旨在应对气候变化的倡议。法方期待中国官方和金融机构高级别代表出席该峰会和相关配套活动。

  59.双方重申根据2007年《气候变化联合声明》所建立的气候变化双边伙伴关系,同意加强2015年《中法元首联合声明》中关于气候变化的协调合作。双方强调多种形式的碳定价的重要性,并认为中国全国性碳市场的发展是重要里程碑,向外界传递了强劲、积极的讯息。双方同意推动能够营造便利环境的倡议,包括鼓励向低碳、适应型经济转型的监管框架,如碳定价机制、逐步削减对排放密集型项目的融资。

  60.双方认同低碳和气候适应型投资的重要性,特别是在基础设施领域,并将采取措施鼓励资金流向资源集约、可持续、低碳和气候适应型项目。双方强调并同意进一步强化两国开发性银行和多边开发银行在此方面发挥的关键作用,特别是进一步撬动公共和私营部门投资。

  61.双方认识到,发展绿色工业是实现《联合国气候变化框架公约》第二十一次缔约方会议(COP21)承诺的重大机遇。在中国工业和信息化部与法国经济和财政部企业总署新更名的绿色制造工作组框架下,双方鼓励企业和科研机构等参与绿色园区和绿色工厂建设。双方将加强两国生产者责任部门合作和高性能分拣中心技术合作,促进电池和蓄电池金属回收利用,支持污水处理厂循环经济发展。

  62.基于作为COP21主席国在动员金融部门方面营造的良好势头,法方非常欢迎中方担任G20主席国期间在G20绿色金融研究小组下开展的高效工作以及德国主席国的后续工作。双方同意密切合作以解决与私人部门合作过程中可能阻碍绿色金融发展的挑战和困难。双方将在G20阿根廷主席国任内继续支持G20相关工作。

  63.双方视对方为主要“绿色金融中心”,并认识到进一步合作的益处。基于各自市场的经验,中法双方将进一步分享绿色融资经验,鼓励双方金融机构落实各自国际国内“绿色融资”相关倡议,支持中法绿色投资合作,并提升对气候变化和环境风险的评估和管理。双方非常欢迎一家中国银行和一家法国资产管理公司即将签订的《谅解备忘录》。双方将鼓励两国金融机构提供能源转型贷款,并进一步探索能效信贷合作,包括就能效金融产品、风险管理经验和能效信贷良好实践等开展交流。为此,双方同意各自的金融机构参与到各自的绿色金融指导进程中。法兰西银行、中国人民银行、法国巴黎欧洲金融市场协会(EUROPLACE)、中国银行间市场交易商协会(NAFMII)和中国金融学会绿色金融专业委员会同意密切合作,进一步推动绿色金融发展。

  64.双方同意为促进包括中法参与者在内的绿色债券市场发展和国际化而密切合作。双方分别代表全球最大和第三大绿色债券发行市场,双方坚定承诺培育两国绿色债券市场发展。中法两国金融机构承诺将支持两国金融机构承销绿色债券。此外,双方同意合作推动绿色资产证券化发展,特别是邀集市场参与者和监管机构启动专项工作组。

  65.双方承诺将进一步强化银行、保险公司和资产管理公司等金融机构环境风险分析和管理,并通过与在该领域拥有良好声誉的市场参与者组织研讨会的方式,分享开发风险建模技术的经验。

  66.法方要求其机构投资者披露投资策略中对“环境、社会和治理”(ESG)标准的考虑,特别是气候相关风险,以及资产配置如何与向低排放转型相一致。在最新的《关于构建绿色金融体系的指导意见》中,中方监管当局强制要求上市公司和债券发行人披露环境风险。双方同意制定在第三国共同开展绿色投资的共同准则。双方同意推动环境信息披露的设计和实施,并制定可选措施以更好利用现有或新发布的环境信息,进而开展风险分析和管理。双方欢迎金融稳定理事会气候金融信息披露工作组的建议,期待为有关建议的全球实施做出贡献。

  67.双方鼓励两国市场机构就绿色投资开展合作,推进可持续基础设施、清洁能源、环境治理、生态保护、气候适应型农业、国际合作生态园等领域金融合作。

  68.双方认为两国在第三方市场方面不断发展的伙伴关系体现了高度互信和富有雄心的双边关系。双方欢迎指导委员会第一次会议的召开,并期待在该会议上选定的亚洲项目和非洲项目的实施。双方同意由指导委员会联系双方工商业界,发现并共同落实此类项目。

  69.双方期待法国信托储蓄集团国际资本公司(法国信托储蓄集团子公司)和中投海外直接投资有限公司(中投公司子公司)在第三方市场的共同投资。共同投资应在符合市场条件的基础上,集中于备忘录中双方同意的相关经济领域,特别是要支持中法两国企业的国际化进程。

  70.双方欢迎法国开发署和中国国家开发银行签署谅解备忘录,以进一步加强合作,共同应对国际开发性金融发展进程中产生的新挑战,特别是在“国际开发性金融机构俱乐部”框架下关注气候变化等问题。该俱乐部形成了国家、区域和国际开发性金融机构的网络,目前由法国开发署任轮值主席,中国国家开发银行任副主席及执行委员会委员。

  71. 法方欢迎中方的“一带一路”倡议。双方同意就两国政府间的具体合作方式进行探讨。

 

China-France Joint Fact Sheet on the 5th High Level

Economic and Financial Dialogue

December 1, 2017

  Providing new impetus for the close and durable Sino-French economic and financial strategic partnership

  The China-France High Level Economic and Financial Dialogue (HED) is a key platform for bilateral communication and policy coordination on strategic, overarching and long-term issues in the economic and financial fields. The first, second, third and fourth Dialogue, which was held in November 2013, September 2014, September 2015 and November 2016, made an active contribution to expanding and deepening the Sino-French comprehensive strategic partnership.

  At present, the 19th National Congress of the Communist Party of China decided to remain committed to the new development philosophy, develop a modernized economy and foster a high-quality economic development, while the new French Government is dedicated to rejuvenating the French economy. This presents new opportunities to the Sino-French economic and financial cooperation. In this context, Chinese Vice-Premier Ma Kai and French Economy and Finance Minister Bruno Le Maire co-chaired the 5th HED on December 1st, 2017 in Beijing. They were joined by a high-level delegation of senior officials from both countries. To constantly intensify the close and durable Sino-French economic and financial strategic partnership in an innovative manner, both sides held in-depth discussion on moving forward on macroeconomic policy cooperation and on global economic governance, on reinforcing cooperation on trade, investment and industry, on deepening China-France financial cooperation, and on tackling together the global challenges related to climate finance and infrastructure investment financing. During the 5th HED, both sides reached consensus as follows:

  I. Moving forward on macroeconomic policy cooperation and on global economic governance

  Implementation of G20 commitments

  1.Both sides reaffirm that they will strengthen their communication and coordination under the G20 framework, support the critical role of the G20 as the premier forum for international economic cooperation and promote the G20 to play a more active role in global economic and financial governance. Both sides are willing to work together with other G20 members at multilateral level to strengthen macroeconomic policy coordination, break a new path for world economic growth, improve further the global economic and financial governance, reduce excessive global imbalances in a way that supports global growth, revitalize trade and investment as engines of growth, while striving to ensure a level playing field, in particular a favourable environment for trade and investment in this regard, make the eleventh WTO Ministerial Conference a success, promote inclusive and interconnected development and tackle further significant global challenges affecting the world economy such as inequality, digitalization, climate change, terrorism, corruption, to continue to contribute to an innovative, invigorated, interconnected and inclusive world economy. Both sides reaffirm the importance of an open and resilient financial system with strong, effective and representative global economic and financial institutions, and of a globally fair and modern international tax system. Both sides agree on the critical role played by multilateral institutions in this regard and on the need to rally to our support other G20 partners on this approach. Both sides will work to advance international financial regulation, so that all financial markets, products and participants are regulated or subject to oversight, as appropriate.

  2.The global economic growth prospects are encouraging, though growth remains weaker than desirable. Globalization and technological change have contributed significantly to driving economic growth and rising living standards across the globe. However, globalization has created challenges and its benefits have not been shared widely enough. In this context, both sides reaffirm their commitment to proactively implementing the consensus reached at the G20 Hangzhou Summit and reaffirmed at the G20 Hamburg Summit to use all policy tools — monetary, fiscal and structural, individually and collectively, to achieve our goal of strong, sustainable, balanced and inclusive growth. Both sides also reiterate the commitment to implementing the G20 Enhanced Structural Reform Agenda, and welcome the first OECD technical report on the G20’s progress on structural reform as well as the new IMF pilot report on the Strong, Sustainable and Balanced Growth path. Both sides jointly reaffirm the importance they attach to the G20 commitments on exchange rate, including to refrain from competitive devaluation.

  National economic policies

  3.China’s economy has been transitioning from a phase of rapid growth to a stage of high-quality development. Since the beginning of this year, the main macroeconomic indicators performance has been better than expected.  In the years to come, China will remain committed to the new development philosophy, work hard for better quality, higher efficiency and more robust drivers of economic growth through reform, raise total factor productivity, and make efforts to address the prominent problems of imbalances and inadequacies in development. This will steadily strengthen the innovation capacity and competitiveness of China’s economy.

  4.France is promoting strong, sustainable and balanced economic growth within a rejuvenated EU Framework. The French government has been further implementing a three-pronged reform strategy that ensures the sustainability of public finances, boosts competitiveness and attractiveness, thanks to a marked improvement in the business environment, and enhances the flexibility of the labour market. This strategy also aims at combating inequalities, in particular through measures in favour of the education system and professional training.

  Sovereign debt

  5.Both sides reaffirm the Paris Club's role as the international forum for restructuring official bilateral debt and support its work on sovereign debt issues. Both countries welcome further expansion of the Paris Club to other emerging creditors. China intends to continue its regular participation in Paris Club meetings and to play a more constructive role, including through further discussions on potential membership.

  To contain the build-up of sovereign debt in low-income countries while allowing adequate access to financing, both sides emphasise the need to promote sound and sustainable financing practices. Both sides therefore welcome the G20 Operational Guidelines for Sustainable Financing and encourage official and private creditors and debtors to implement such guidelines, taking into account national circumstances.

  International Monetary Fund

  6.Both sides commit to strengthening their cooperation in the International Monetary Fund (IMF), and to continuing to improve the IMF’s quota and governance structure. Both sides are working expeditiously towards the completion of the 15thGeneral Review of Quotas and support ongoing work to further enhance the effectiveness of its lending toolkit. Both sides reaffirm that the realignment of quota shares should result in increased shares for dynamic economies in line with their relative positions in the world economy, and hence likely in the share of emerging market and developing countries as a whole while protecting the voice and representation of the poorest. More broadly, both sides support work to further strengthen the Global Financial Safety Nets (GFSN), with a strong, quota-based and adequately resourced IMF at its center.

  Anti-money laundering and counter terrorist financing

  7.Both sides reaffirm their commitment to comply with the anti-money laundering and counter terrorist financing standards defined by the Financial Action Task Force (FATF). Both sides support the transformation of the FATF into a legal person, recognizing that it plays a critical and sustained role in tackling AML/CFT threats. Both sides welcome the work on a bilateral MoU of anti-money laundering between the PBoC and ACPR. Both sides agree to promote the cooperation of anti-money laundering information exchange and supervision. Both sides commit to continue cooperation within frameworks such as the G20 Anti-corruption Working Group (ACWG).

  Tax evasion and avoidance

  8.Both sides agree to continuously maintain close cooperation and take measures in coping with cross-border tax evasion and avoidance. Both sides will continue to support G20 commitment on promoting tax transparency and implementing automatic exchange of information and call on all jurisdictions to comply with the internationally agreed standards of transparency and exchange of information in the tax area within the timeframe they have committed. Both sides will continue to support the OECD work aiming to keep updated a list of those jurisdictions that have not yet sufficiently progressed toward a satisfactory level of implementation of the agreed international standards on tax transparency. Defensive measures will be considered against listed jurisdictions.

  9.Both sides are working on enhancing tax certainty and with the OECD on the tax challenges raised by digitalisation of the economy. Both sides agree to continuously strengthen communication and cooperation on the implementation of G20/OECD Base Erosion Profit Shifting Action Plans. The effectiveness of the project will be determined by its widespread and consistent implementation. Both sides are committed to helping developing countries, especially low income countries, strengthen their capacity building in tax policy and administration through various forms.

  2030 Agenda for Sustainable Development and Addis Ababa Action Agenda

  10.Both sides agree to maintain close communication and cooperation in implementing the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda, and commit to further align their actions with the 2030 Agenda for Sustainable Development and its integral part, the Addis Ababa Action Agenda on Financing for Development, domestically and internationally, including in support of developing countries and the provision of public goods.

  Trade and investment

  11.Both sides reaffirm their support to a rule-based, open, inclusive, transparent and non-discriminatory multilateral trading system with WTO at its core, and underline the political and economic necessity to ensure that international trade benefits are fairly  distributed across and within countries, through the preservation of the core values and fundamental principles of the multilateral trading system, the concrete implementation of agreed disciplines, appropriate coordination of trade policies while being supported by ambitious trade adjustment fiscal policies nationally to make sure everyone benefits from globalization. Both sides commit to working together to improve the functioning of the WTO, to ensure full and transparent implementation and effective and timely enforcement of all WTO rules by all members. Both sides agree to push for the removal of all trade distorting practices.

  12.Both sides agree that improving the level of compliance by all members with WTO requirements and disciplines, especially in the field of transparency and subsidies notification, should be strengthened in order to maintain the authority and efficiency of the multilateral system. Both sides agree to work constructively with all WTO members toward balanced, meaningful and concrete results for the next WTO Ministerial Conference in Buenos Aires.

  13.Both sides agree that a common framework on officially supported export credits would participate in boosting international trade flows. Therefore, both sides reiterate their support to the International Working Group (IWG) in negotiating a new set of international guidelines for officially supported export credits. In this regard, they fully support the work of the Secretary General with the agreed authorization and welcome the invitation to participate to the technical working groups to continue achieving progress on horizontal guideline negotiation in 2018 and beyond.

  14.Both sides recognize that subsidies and other types of support from governments or government-sponsored institutions can cause market distortions and contribute to global excess capacity in industrial sectors. Both sides welcome the results of the Global Forum on Steel Excess Capacities ministerial meeting in Berlin and will take necessary actions in line with the consensus achieved in the Global Forum. Both sides reaffirm their commitment to continuing the work of the Global Forum on Steel Excess Capacities under the Argentinian presidency of the G20 in order to tackle these issues.

  Multilateral Development Banks

  15.MDBs:

  (1) Both sides welcome MDB work on optimizing balance sheets, boosting investment in infrastructure and connectivity and crowding in private finance taking into account scarce public resources and the key role of private sector in sustainable economic development, while ensuring additionality and value for money.

  (2) Both sides support the World Bank Group (WBG) to implement its Shareholding Review according to the agreed roadmap and principles, with the objective of achieving equitable voting power over time.

  (3) Both sides agree to strengthen coordination and cooperation under the framework of Asian Infrastructure Investment Bank (AIIB), and commit to building the AIIB into a 21st century new Multilateral Development Bank together with other members. Both sides believe that the AIIB has a key role to play in fostering sustainable, low-carbon and climate-resilient economic development notably in the framework of the Paris agreement and improving infrastructure connectivity in Asia, in particular in collaboration with other MDBs and bilateral development banks such as AFD active in the region. In particular, both sides welcome the dialogue initiated between AFD and AIIB with a letter of intent signed on July 12th 2017. AIIB and AFD have mutual interest in promoting sustainable development, low-carbon and climate-resilient investments in line with the Paris Agreement on Climate and the SDGs agenda. They wish to collaborate to address the development challenges in the region more effectively and to enhance their cooperation including through co-financing operations in countries eligible to their respective financing activities and that meet their respective strategies and policies.

  II. Reinforcing cooperation on trade, investment and industry

  Trade and investment policy

  16.China and EU enjoy one of the world's biggest and most dynamic trading relationships and are both committed to liberalizing world trade while fighting against unfair trade practices and sharpening the rule-based system with WTO at its core. Both sides reiterate their attachment to free and fair trade, based on reciprocal and mutual benefits and the principle of non-discrimination.

  17.Both sides reiterate the important role that the Joint Commission on Trade and Investment plays in facilitating trade and investment, fighting protectionism, improving market access and framework conditions for companies and developing new bilateral sectoral cooperation, and look forward to its 25th session to be held in 2018. Both sides agree to continue encouraging two-way trade and to work towards finding solutions to lift obstacles to trade so as to promote exports.

  18.To implement the consensus reached by the two Heads of State and further promote higher level cooperation for companies of both nations, China and France agree to launch a Sino-French Business Council, building a significant platform for top executives for companies in key cooperation areas, offering advice and suggestions, pushing forward pragmatic economic and trade cooperation through their regular participation to official visits and their involvement into the Sino-French Business Council meetings. The work of the Sino-French Business Council may be discussed during the High Level Economic and Financial Dialogue.

  19.Regarding agribusiness, following the large cooperation on both sides and the multiple exchanges of information since two years now, China commits to deliver the results of the last audits and to grant approvals before the end of the year to the compliant French pig meat and infant formula companies audited by CNCA in November 2015. Recognizing the joint interest to have access to high-quality products, both sides agreed to make French products available to Chinese operators in the feed market. France welcomes the lifting-up of the BSE embargo by China. Taking stock of this decision and recognising the high level of French animal health control system, China commits to expedite the process of effective market opening for French beef meat.

  20.Both sides agree that promoting mutually beneficial opening is critical to maintaining dynamic bilateral investment flows in the long run. Both sides reiterate the need to intensify their efforts in the ongoing negotiations towards an ambitious and comprehensive investment agreement between the China and EU, which shall include investment protection, market access and other elements further facilitating investment.

  21.Both sides welcome meaningful foreign direct investments that create employment and growth. China reiterates its willingness to implement meaningful steps towards market liberalization in China for foreign investors. China will comprehensively implement the pre-establishment national treatment and negative list management system, to greatly widen market access, to fairly treat all the firms registered in China, in the wake of State Council documents number 5 and 39 and the 19th Party Congress. China will host the China International Import Expo starting from 2018 and would welcome the French side to participate.

  22.Both sides agree to further strengthen communication and cooperation in the area of export control so as to facilitate, to secure and to boost the bilateral high tech trade.

  Intellectual property

  23.Both sides agree to further strengthen bilateral cooperation and mutual understanding in the field of intellectual property under the framework of China-France Cooperation Agreement on Intellectual Property, as well as other relevant bilateral cooperation agreements and mechanisms. This cooperation aims to build a better innovative environment and benefit the IP users and the public.

  Both sides will organize the Joint Committee Meeting on Patents in China in 2018 to share the best practices in intellectual property creation, utilization, protection, management and service. Both sides agree to further help the enterprises from the other side to resolve the barriers in trademark registration in the local jurisdiction accordingly with the respective laws, and to provide a sound intellectual property right environment for the bilateral economic and trade development.

  Both sides will continue to work together to provide better services for users of IP systems and the public from both countries. Both sides agree to help French companies protect and enforce IP in China as well as to help Chinese companies protect and enforce IP in France.

  Both parties will cooperate to strengthen the legal protection and effective enforcement systems of geographical indications (GI) in China and France. Both sides are willing to actively promote the negotiations on the China-EU Agreement on GI.

  Both sides agree to strengthen the cooperation on the protection and enforcement of IPRs. Both sides agree to strengthen exchanges about creating a digital environment based on trust by welcoming initiatives establishing online IPR protection standards. Both parties will continue to welcome initiatives with e-commerce and social media platforms and search engines to use reasonable best efforts to adopt appropriate, proactive and preventive actions against suspected IPR violations by relying on available information, technology and resources.

  24.Energy cooperation:

  (1) Both sides welcome the first meeting of the China-France Energy Dialogue between National Energy Administration of China and the Ministry for Ecological and Inclusive Transition of France held on November 30th. This dialogue allows to share experience in energy policy and to review industrial cooperation periodically. Both sides agree to hold this dialogue regularly in order to enhance the communication on energy topics, and to define more precisely the areas of the future energy cooperation. The outcomes of this Energy Dialogue are reported to the High Level Economic and Financial Dialogue. The NEA of China and the French Association for Design, Construction and In-service Inspection Rules for Nuclear Island Components (AFCEN) will sign the Cooperation Agreement on Nuclear Power Codes and Standards during the dialogue, in order to push forward the bilateral cooperation on nuclear power codes and standards.

  (2) Both sides reiterate their commitment to supporting the development of nuclear energy usage for peaceful purpose in a responsible manner. They welcome the progress made in implementing the Joint Statement on Deepening Civil Nuclear Energy Cooperation which was issued by the two governments during Premier Li Keqiang’s visit to France on June 30, 2015 in Paris. Both sides welcome the start of the construction works for the Hinkley Point C project and the beginning of the general design assessment of the Hualong One (HPR1000) reactor in the United Kingdom. France will continue to encourage EDF to provide support for the adaptation of the reactor design and its certification by the British regulatory authorities. Both sides will continue to encourage discussions between industrials regarding nuclear power plant development in third countries on the basis of mutual benefit. Both sides will continue to work towards completion and operation of the first units of the Taishan nuclear power project and look forward to further developing this important energy cooperation project together.

  (3)Both parties value the importance of the closed nuclear fuel cycle for sustainable nuclear energy development and agree to strengthen their joint efforts on the project of a reprocessing-recycling plant in China with the goal of concluding trade negotiations as soon as possible. The upcoming visit of President Macron will be a key milestone to reaffirm this commitment. Both parties will continue to deepen their cooperation in the areas of nuclear research and development in the framework of 12th protocol between CEA and CAEA on the peaceful use of nuclear energy. Both parties welcome the signature of the Framework for Industrial and Commercial Cooperation Agreement (FICCA) between CNNC and AREVA New Co, which is an ambitious partnership that aims to extend the cooperation to all areas of the nuclear fuel cycle. Both parties will support the practical and quick implementation of this Agreement on the basis of balanced and mutual benefits.

   (4) Both sides will further enhance the cooperation in the renewable energy field such as wind power and solar energy, and jointly promote low carbon development in both countries.

  Industry and digital economy

  25.France and China are both implementing cross-disciplinary programs in order to accelerate the modernization and the digitization of their industries and to foster innovation: Industry of the Future and China Manufacturing 2025. Both sides are committed to strengthening their exchanges within the framework of the French-China Committee on Industry between DGE and the MIIT to support China-France cooperation projects and experience in industry, as well as encouraging companies, academics and research institutes of the two sides to carry out practical communication and cooperation. This cooperation will be conducted on an equal and voluntary basis, respecting business confidentiality. They welcome the five industrial projects and two partnerships on training that have been recognized as joint pilot projects on industry of the future-China Manufacturing 2025. They note with satisfaction that a large number of industrial and academics pilot projects are under discussion. Both parties will continue jointly identifying and publicizing the list of the new show-cases.  Both sides support the Center for International Economic and Technological Cooperation (CIETC) and the L’Alliance pour Industrie du Futur to jointly promote the establishment of Sino-French Strategic Alliance for Industrial Cooperation.

  26.France and China welcome the deep ties and exchanges existing between innovative businesses of both countries, should they be start-ups or established industrial companies. Both sides welcome the F2 program led by the French Tech and encourage all interested start-ups, investors, researchers and corporates from both countries to participate.

  Aeronautic and aerospatial cooperation

  27.Both sides underline the mutual benefits of bilateral cooperation in the aeronautic industry, which can be pictured by the presence of Airbus in Tianjin and welcome the inauguration in September 2017 of the A330 Wide Body Completion and Delivery Centre alongside the A320 Final Assembly Line. Both sides support the furthering of discussion between Airbus and its Chinese partners on promoting wide body jets cooperation that includes A330, A 350 and A380.

  28.Both sides agree to complete the development of CFOSAT and SVOM satellites and ensure the satellites will be launched according to the schedule agreed upon in the last bilateral MOU signed in August 2014 for SVOM and January 2015 for CFOSAT. The 11th China-France Joint Committee on Space Cooperation successfully held in May 2017 provided the opportunity to focus on two cooperation themes: exploration and climate change. Both sides are dedicated to further seeking possible cooperation pattern in the space sector through a joint agreement to be signed in 2018. Particular emphasis should be placed on cooperation issues, including but not limited to the role of satellites in studying climate science and addressing climate change, a priority reinforced by both sides in the Paris Agreement of the COP21. Both sides will further promote the follow-up collaboration on space fields to improve the sustainable development of Sino-French space cooperation.

  Automotive cooperation

  29.The automotive industry plays a major role in the strengthening of the bilateral relationship between China and France. Both sides acknowledge the importance of transparent and fair principles in the implementation of industrial policy. Both sides are also committed to encouraging the production and development of green and intelligent vehicles by facilitating the use in both countries of the best and most up to date technologies developed by Chinese and French industrial companies in the field of new energy vehicles and connected mobility. Based on reciprocity and in accordance with Chinese, French and European legislations, both sides agree to facilitate the implementation of the technical solutions developed by Chinese and French companies in these fields, including electric propulsion systems and technologies.

  Both sides welcome the last meeting of the annual bilateral working group on automotive industry. They also welcome the deepening of relationships between China Automotive Technology and Research Centre and Bureau de Normalisation de l’Automobile on global standards and regulation and support them to sign the agreement which will stand for an important step towards the harmonization of both countries’ positions in multilateral standardization bodies.

  France and China also stress their mutual interest in exchanging on regulations regarding new energy vehicle and autonomous driving and look forward to deepen the discussions at the next bilateral meeting.

  Cooperation in the field of standardization

  30.Both sides will pursue cooperation in the field of standardization as initiated in 2013, with a special focus on the sectors of E-health, Silver economy, agro food, smart and sustainable cities and railway. Both sides will also explore partnerships in new sectors such as the new industrial revolution under the framework of the China manufacturing 2025/Industrie du future dialogue, civil aviation, e-commerce and new cooperation on climate and finance within ISO/TC207 “environmental management”. SAC (Standardization Administration of China) and AFNOR (Association fran?aise de normalisation) will hold the next Sino-French standardization Seminar during the second half of 2018 in China. Based on the previous good experience, AFNOR will continue to provide its expertise to the Chinese authorities to help them adapt the Chinese standardization system to the new challenges raised by the upgrading and the internationalization of the Chinese economy through the appointment of its director general at the China Standardization Expert Committee.

  31.China Customs and French Customs have made notable progress in law enforcement cooperation including intelligence exchange, mutual administrative assistance and combating commercial fraud. Both sides will increase personnel exchanges, implement the Technical Cooperation Agreement of 2017-2021 between China and French Customs, and strengthen cooperation in fighting against commercial fraud, counterfeits and hazardous wastes, in order to foster a sound and orderly trade environment. Meanwhile, both sides will continue to actively participate in the 3rd Phase implementation of China-EU Smart and Secure Trade Lane Pilot Project, intellectual property rights protection and the mutual recognition of Authorized Economic Operators (AEO) and will enhance the custom cooperation on cross-border e-commerce, so as to secure and facilitate China-EU and China-France trade.

  Joint research

  32.Both sides agree to continue the communication and cooperation between the think tanks of the two countries in the financial field. Both sides welcome the Development Research Center (DRC) of the State Council of China and France Strategy (CGSP) to continue to hold the China-France Workshop in China and France in rotation, discussing issues of common interest such as international coordination of macroeconomic policies.

  III. Deepening China-France financial cooperation

  33.Both sides underline that Paris financial marketplace is a leading financial marketplace and a prime gateway for investing in the Eurozone. The ongoing initiatives by both public authorities and French financial actors will further foster its competitiveness. Both sides welcome the adoption of a joint Financial Action Plan setting the main features of their cooperation in the financial field for the years to come, on the basis of expertise sharing and mutual benefits.

  Development of Paris as a leading hub for RMB-denominated activity

  34.Both sides welcome the on-going development of an off-shore RMB market in Paris, as a major and leading hub for RMB-denominated activity in the euro area. Both sides welcome the issuance of RMB-denominated bonds by Chinese and French issuers of all kinds respectively on the Chinese on-shore market and the French off-shore market. French institutional investors and corporates are encouraged to take advantage of RMB-denominated banking and financial services developed in Paris by Chinese and French financial institutions to increase their activities in RMB. Both parties encourage Paris EUROPLACE’s action to promote, among French financial institutions and corporates including SMEs, the use of RMB in not only trade finance, but also in market transactions, Forex and trade, including between China and Africa, in order to strengthen the position of Paris as one of the leading European offshore RMB centers. Both sides invite Chinese financial institutions and corporates to increase their offshore issuance in RMB denominated securities in Paris.

  35.Intermediaries and financial market infrastructures in the Chinese interbank and exchange market, such as China Foreign Exchange Trade System (CFETS), Shanghai Clearing House, Shanghai Stock Exchange, Shenzhen Stock Exchange, China Central Depository Clearing Co. Ltd. (CCDC), are encouraged to take part, in collaboration with French market infrastructures and intermediaries, in the development of the off-shore RMB market in Europe, using Paris as a hub for RMB-denominated activity in the euro area. French and Chinese market participants issuing off-shore securities in RMB are encouraged to use the services provided through the collaboration between Chinese infrastructures and French infrastructures, such as Euronext and Euroclear France.

  Internationalization of the bond market

  36.France very much welcomes the opening-up of the Chinese Interbank Bond Market (CIBM) pursuant to PBoC circular n°3. France recognizes the great potential of the Panda Bond market and will encourage French institutions to issue Panda Bonds. Both sides very much welcome the fruitful cooperation between NAFMII and Paris EUROPLACE and the organization in Beijing on the 1st December 2017 of the fourth Sino-French Financial Forum co-hosted by the PBoC/Banque de France and by the China Securities Regulatory Commission (CSRC) and the Autorité des marches financiers (AMF) on strengthening cooperation concerning the following three aspects, namely macro prudential policies and the opening up of financial markets, asset management: new investment solutions for financing the real economy, and new finance: green finance, fintech, etc. France therefore very much welcomes the first underwriting license granted to an active French bank in the Chinese inter-bank bond market and welcomes that based on market-based evaluation conducted on the principles of fairness, openness, impartiality, China will positively consider granting French banks the underwriting licenses, including the lead underwriting license of panda bonds in the Chinese inter-bank bond market.

  37.Chinese financial institutions and corporates are encouraged to take advantage of the leading role played by the Paris Financial Centre in the Eurozone and to issue Euro-denominated bonds.

  38.Both sides recognize that French institutional investors are among the biggest QFII and RQFII players and agree to continue to cooperate to help French investors take full advantage of the QFII and RQFII scheme. In particular, China welcomes more applications from French institutions and agrees to increase the RQFII quota of France when appropriate. Both sides remain committed to the positive operation of the agreement on Qualified Domestic Institutional Investors (QDII) signed between the AMF and the CBRC in 2014 in relation to the overseas wealth management business of Chinese commercial banks. China welcomes the registration of qualified French banks as QFII custodians, so that they can establish domestic custodian functions and therefore increase their securities investment in China, especially in stocks.

  Cooperation between financial market authorities

  39.China welcomes French regulator’s partial exemption of prudential requirements on Chinese bank branches established in Paris. Further exemption of prudential requirements on the capital adequacy ratio may be considered, subject to the principle of reciprocity, with respect to the prudential requirement applicable to Chinese branches of French credit institutions.

  40.Both sides welcome the achievements to date under the enhanced cooperation between the China Securities Regulatory Commission (CSRC) and the Autorité des marches financiers (AMF), particularly in the fields of asset management as well as information sharing with a view to ensuring market integrity and investor protection. The CSRC and the AMF recognize the importance of remaining vigilant in the face of important and emerging risks and vulnerabilities in the financial system. They reiterate their commitment to cooperate further on assessing and monitoring such risks and vulnerabilities on a bilateral basis as well as in international fora. The CSRC and the AMF agree to share experience in the fields of market surveillance and enforcement with a view to preventing and fighting market abuses. In addition to the regulation of asset management activities, the authorities agree to pursue their dialogue and facilitate greater mutual understanding on other areas including derivative markets, listed companies and their financing on the markets, innovation in financial services and investor protection. The CSRC and the AMF further agree to share experience in the field of green and sustainable finance and discuss their respective approaches on matters such as disclosure of non-financial information.

  Asset management

  41.Both sides welcome the fruitful relationships developed between the authorities and the Chinese and French asset management industries. They support the dialogue going forward between the AMF and the CSRC in order to facilitate mutual assistance and cooperation in the perspective of developing asset management activities in each country. China welcomes France to share its experience in delegation of asset management activities. The CSRC and the AMF are encouraged to further collaborate on facilitating such activities in France as well as in China under the relevant schemes. Both sides agree to strengthen communications and facilitate mutual understanding on asset management industries and regulation systems so as to promote and create favorable conditions for the mutual recognition of funds between China and France. Both sides also commit to continue facilitating the establishment of their asset management industry participants, respectively in China and in France. As an effort to implement the plans on further opening up the Chinese economy laid out by the 19th CPC National Congress, China has decided to raise the cap on direct/indirect equity ownership by single/multiple foreign investors in joint venture securities, fund management and futures companies to 51%. There will be no equity cap limit on such investments three years after the implementation of aforementioned measures. France welcomes efforts made by China to ease market access to China’s securities and fund management industries according to its own timetable and road map, and expects that French Asset Management companies will thus be enabled to participate in the Qualified Domestic Limited Partnership (QDLP) and Qualified Domestic Investment Enterprise (QDIE) schemes, when appropriate. Both sides welcome French Asset Management companies established as qualified wholly foreign owned enterprises (WFOE) to register with the Asset Management Association of China (AMAC) as private fund management entities to engage in private fund management business.

  Cooperation between banking associations

  42.Both sides welcome the signature of the MoU on May 2017 between the China Banking Association (CBA) and the French Banking Federation (FBF) to foster cooperation.

  Securities and securitization

  43. France welcomes the announcement of China’s decision on majority foreign ownership of JV securities and futures companies and looks forward to its early implementation. France believes that allowing qualified French banks to develop derivatives business in China through the establishment of joint venture securities and futures companies, participating in the securities and futures markets, will enrich the investment choices for Chinese investors, thus contribute to the better serving of the real economy.

  44. China welcomes French Banks to share their securitization expertise, provide advice and contribute to the healthy and sustainable development of the Chinese securitization market.

  45.To support the deepening of mutually beneficial cooperation, both sides agree to enhance cross-border regulatory dialogues and to strengthen regulatory cooperation mechanisms for securities and futures markets. Both sides agree to promote personnel exchange, and support and facilitate short-term personnel exchange programs between financial authorities.

  Cooperation between authorities

  46.Both the Chinese and the French banking supervisory authorities agree to further enhance supervisory cooperation and communication, especially in the area of guarding against systemic and regional risks, enhancing compliance management of banking institutions and promoting supervisory staff training.

  47.CIRC is willing to strengthen communication and experience sharing with ACPR on insurance supervision, and further intensify cooperation on international insurance regulatory reform within relevant fora. Both sides agree to continue reinsurance cooperation on long-term care and management of major risks.

  48.Both sides agree to promote the cooperation on audit oversight based on mutual respect for the national sovereignty of each country and each other’s domestic laws and regulation. Both sides started consultation on the draft of a bilateral audit regulatory cooperation agreement, with arrangements that may include elements of mutual reliance or information exchange, etc., at the present stage with the aim of signing it after the adoption of a decision recognizing the adequacy of the Chinese auditor oversight authority by the European Commission. Chinese and French regulatory authorities agree to reach bilateral audit regulatory arrangements, with the aim to promote bond markets connectivity and facilitate cross-border bond issuance.

  Fintech and banking sector

  49.Both sides acknowledge the potential for innovation and growth in the financial sector offered by financial technologies (“Fintech”), and welcome closer regulatory and intergovernmental cooperation as well as cooperation between industry bodies, which aims at providing an appropriate environment for Fintech firms and incumbent players to develop innovative services to do business based on reinforced risk prevention according to relevant laws and regulations, fostering sound development of this industry, and delivering effective protection for investors.

  50.Both sides are willing to further intensify communication and cooperation on important issues on conduct supervision and consumer protection, which include conduct supervision frameworks and tools, financial ombudsman regime, financial literacy and education, evaluation for the performance of financial consumer protection, as well as consumer protection in the context of FinTech.

  Market infrastructures

  51.PBoC and Banque de France agree to strengthen their cooperation in the field of payment systems. As one of the central banks of the Eurosystem involved in the design and operational functioning of TARGET 2, Banque de France is willing to assist, where appropriate, PBoC in the preparation of phase 2 of CIPS (China International Payment System) drawing on its experience in designing payment systems with liquidity saving features (PNS, TARGET 2). China recognizes that Paris is a leading FX market in the Eurozone. Both sides agree to discuss how possible synergies between Chinese and French FX market stakeholders can be best organized. Both sides agree to support strengthened cooperation between the China UnionPay and its French partner institutions, wider acceptance of UnionPay card and small-amount payment of UnionPay card, including issuing UnionPay business cards and cards for small-scale trade to specific groups and customers. France will encourage French bank, while respecting their autonomy of decision, to provide convenient and secure environment for UnionPay card holders.

  52.Both sides are committed to strengthening cooperation on the regulation of OTC derivatives markets, including enhancing cross-border collateral management services through a cooperation between Chinese partner institutions and Euroclear, facilitating the realization of mutual recognition of Qualified Central Counterparties (QCCPs) between China and the EU and sharing experience in the development and regulation of the OTC derivatives market. Both sides support more solid cooperation between China and France on promoting regulatory policy dialogue, and major theoretical research. Recognising the importance of sound risk management practices, processes and tools, both sides commit to working together to further allow the sound development of the derivatives markets with a view to providing efficient hedging mechanisms for corporate and financial institutions to mitigate risk exposures.

  Cooperation between financial centers

  53.Both sides support the development of innovative SMEs, and would like to encourage a fruitful cooperation between the Shenzhen Stock Exchange and Euronext in the field of market finance for small and mid-caps. Such a co-operation could be based in the near future upon the exchange of good practices, and further development of their collaboration regarding indexes and investors roadshows such as the one organized in Beijing in 2016. Euronext is also willing to develop its collaboration with Dalian Commodity Exchange. The AMF and the CSRC welcome the enhanced cooperation between Euronext and the Shenzhen Stock Exchange and stand ready to facilitate joint initiatives, as appropriate.

  54.The Shanghai Municipal Financial Services Office and Paris EUROPLACE commit to continue exchanges for a deeper and broader financial cooperation. Both parties are intending to mobilize Chinese and French market participants to further support cross-border and portfolio’s investments (including in the Shanghai FTZ) and expand the financial cooperation through the development of respective capital markets.

  55.Both sides welcome the decision of the State Council of People’s Republic of China to establish the Chongqing Pilot Free Trade Zone, with the objective for Chongqing to be a pioneer in the western region. In the framework of the cooperation agreement they signed, Paris EUROPLACE and the Chongqing Financial Development Service Centre (CQFDSC) initiated preliminary discussions on different issues that could be developed between Chinese and French market professionals and academics: financial innovation with appropriate supervision, two-way RMB financing services between the FTZ and overseas, cross-border corporate financing within the FTZ.

  Financial intelligence

  56.Both sides encourage the CAMLMAC of PBOC and the Traitement du renseignement et action contre les circuits financiers clandestins (Tracfin) of the French Ministry of Economy and Finance to strengthen their exchange of financial intelligence on anti-money laundering and counter terrorist financing. As such, both sides warmly welcome the seminar that was held in Beijing at the end of November 2016 and closer contacts that followed. They also encourage their financial intelligence units to establish a proper follow up, in order to facilitate a better mutual understanding and foster cooperation.

  IV. Tackling together the global challenges related to climate finance and infrastructure investment financing

  Addressing the challenges related to climate change

  57.Both sides welcome the international momentum in order to achieve the full and effective implementation of the Paris Agreement and commit to completing the work program related to the implementation of Paris Agreement by 2018. In this framework, they commit to advance the work program in a balanced manner regarding all elements of the Paris Agreement including (i) mitigation and adaptation actions, (ii) finance, technology and capacity building supports, and (iii) transparency for action and support. They reaffirm that the Paris agreement is to enhance the implementation of the United Nations Framework Convention on Climate Change, including its objective, and will not be renegotiated. This Agreement will be implemented to reflect equity and the principles of common but differentiated responsibilities and respective capabilities, in the light of different national circumstances. Both sides commit to effectively implement their Nationally Determined Contributions (NDCs) together with other parties which will represent a progression over time and reflect their highest possible ambition, while recognizing the need to support developing country Parties for the effective implementation of this Agreement. They will formulate and communicate respective mid-century, long-term low greenhouse gas (GHG) emission development strategies as early as possible in line with the Paris outcome. In enhancing the implementation of the Convention, including its objective, they also insist on the importance of making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development in the context of sustainable development and efforts to eradicate poverty. Both sides recognize that developed countries shall provide financial resources to assist developing countries with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention, and that other countries are encouraged to provide or continue to provide such support voluntarily. They reiterate their call on developed countries to fulfil their commitment to jointly mobilize $100 billion per year by 2020 for climate change adaptation and mitigation in developing countries.

  58.Two years after the COP21, the French President will convene a new summit in Paris on December 12th 2017 to take stock of the initiatives launched to address climate change.  France looks forward to the participation of high-level Chinese authorities and financial institutions to this event and to the events organized in its ramp-up.

  59.Both sides recall their bilateral partnership on climate change established by the Joint Declaration on Climate Change of 2007 and their agreement to enhance their coordination and cooperation on climate change as stated in their Joint Presidential Statement on Climate Change of 2015. Both sides emphasize the importance of carbon pricing which can take different forms and consider in this respect that the development of a national carbon market in China is an important milestone and a strong and encouraging signal. Both sides agree to stimulate initiatives promoting the enabling environments, including regulatory frameworks, that can incentivize the transition towards a low-carbon and resilient economy, such as inter alia carbon pricing schemes and the phasing down of financing for emission intensive projects.

  60. Both sides recognize the importance of low-carbon and climate-resilient investments, in particular in infrastructure, and will make efforts to encourage financial flows to resource efficient, sustainable, low-carbon and climate-resilient projects. Both sides stress and agree to further promote the critical role to be played by national and multilateral development banks in this regard, in particular to further leverage public and private investments.

  Green industry

  61.Both sides recognize that the development of green industry is a major challenge to meet the COP 21 commitments. Within the renamed Working Group on Green Manufacturing set up by DGE and MIIT, both sides encourage the enterprises and research institutes to participate in the construction of green parks and factories. Both sides will strengthen Franco-Chinese cooperation in extended producer responsibility sectors and technical cooperation for the development of high-performance sorting centers, promote recycling of metals from batteries and accumulators and support the development of the circular economy of sewage treatment plants.

  Green finance

  62.Building on the momentum provided by the COP21 French Presidency in mobilising the financial sector, France very much welcomes the highly impactful work by the G20 Green Finance Study Group under the G20 Chinese Presidency and its follow-up under the German Presidency. Both sides agree to closely cooperate to address challenges and difficulties that may hinder the sound development of green finance in collaboration with the private sector. Both sides will continue to support the work program of G20 on related issues under the aegis of the Argentinian Presidency of the G20.

  63.Both sides recognize each other as a major “green financial centre” and the benefit of further collaboration. Drawing on the experiences gained in their respective markets, both sides will further share their experience in “green financing” and agree to encourage Chinese and French financial institutions to enhance cooperation to implement domestic and international initiatives on “green finance”, to support green investments between China and France and to improve the assessment and management of the climate and environmental risks.  Both sides very much welcome the MoU to be signed between a French asset manager and a Chinese bank to that end. Both sides will encourage Chinese and French institutions to offer energy transition-related credits, and explore further cooperation on energy efficiency credit, including exchanges on energy efficiency financial products, experience of risk management and best practice in energy efficiency credit. For this purpose, both sides agree to involve French and Chinese financial institutions in their steering process on green finance. Banque de France, PBoC together with Paris EUROPLACE, NAFMII, and the Green Finance Committee of China Society of Finance & Banking agree to strengthen their close co-operation and further promote green finance.

  64.Both sides agree to closely collaborate to facilitate the growth and internationalization of robust green bond markets involving Chinese and French market participants. Both sides’ marketplaces represent respectively the first and the third country in terms of “green bonds” issuance, and both sides are strongly committed to fostering the development of the Chinese and French markets. Chinese and French financial institutions are committed to supporting the underwriting of green bonds both in China and in France. Besides, the two parties agree to co-operate to the development of green asset securitization, in particular with the launch of a dedicated Working Group bringing together market participants and regulators.

  65.Both sides are committed to further enhancing the analysis and management of environmental risks by financial institutions such as banks, insurance companies and asset managers, and sharing their experience in developing risk-modeling techniques by organizing workshops with market participants with a sound track-record in that field.

  66.France requires its institutional investors to disclose how they take into account ‘Environmental, Social and Governance (ESG)’ criteria into their investment strategies, with a particular focus on climate-related risks and how asset allocation is consistent with the low-GHG transition. China, in its recent Guidelines for Establishing the Green Financial System, has outlined its roadmap towards establishing mandatory requirements for listed companies and bond issuers to disclose environmental information. Both sides agree to work on common guidelines to be applied to co-funded green investments in third countries. Both sides agree to facilitate the development and implementation of disclosure requirements, and will develop options to better utilize existing and develop new environmental data for risk analysis and management. Both sides welcome the recommendations of the FSB’s Taskforce on Climate Financial Disclosures and look forward to contributing to their global implementation.

  67.Both sides encourage the financial institutions of two countries to promote financial cooperation in the areas of sustainable infrastructure, clean energy, environmental and ecological protection, climate-adaptable agriculture and ecological parks.

  Partnerships in third markets

  68.Both sides consider their developing partnerships on third markets as an evidence of the great trust and ambition that govern their bilateral relationship. Both sides welcome the first meeting of the steering committee and look forward to the implementation of the projects selected at this meeting in Asia and in Africa. Both sides agree to let the steering committee associate their business communities, to the identification and mutual implementation of such projects.

  69.Both sides look forward to co-investments in third markets by CDC International Capital (subsidiary of Caisse des Dép?ts) and CIC Capital (subsidiary of China Investment Corporation) which shall, in accordance with market conditions, focus on the relevant economic sectors agreed in the MoU and especially support the internationalization of both Chinese and French firms.

  70.Both sides also welcome the MoU to be signed between AFD and China Development Bank to further promote cooperation and provide joint answers to new challenges arising from the international development finance agenda, specifically focusing on climate change issues as well as enhanced collaboration in the framework of the International Development Finance Club (IDFC), the largest network of national, regional and international development banks worldwide. IDFC is currently chaired by AFD; China Development Bank acts as Vice-Chair and member of the Club’s Steering Group.

  The Belt and Road Initiative

  71.France welcomes the Belt and Road Initiative. Both sides agree to explore ways for concrete cooperation between our two governments.

 

 

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