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FS in meetings with heads of Russian financial regulators

     The Financial Secretary, Mr John C Tsang, held several meetings with heads of Russian financial regulators in Moscow yesterday afternoon (August 28) and today (August 29).

     Yesterday afternoon, Mr Tsang held a meeting with the Chairman of the Bank of Russia, Mr Sergey Ignatiev, and exchanged views on the global economy and the Euro crisis. Mr Tsang gave an update on the development of offshore Renminbi business and the business opportunities of foreign banks in Hong Kong. He said that he welcomes more Russian banks to establish business in Hong Kong.

     At a meeting with the President of the Moscow International Currency and Stock Exchange, Mr Ruben Aganbegyan, this morning, Mr Tsang was briefed by Mr Aganbegyan on reforms in Russia's securities market. Both sides agreed to strengthen collaboration on exchange institutions among the BRICS countries.

     This was followed by a meeting with the Head of the Federal Service for Financial Markets of the Russian Federation, Mr Dmitry Pankin. The meeting mainly covered investor education and work to combat insider trading.

     Tomorrow (August 30), Mr Tsang will attend the Asia-Pacific Economic Cooperation Finance Ministers' Meeting.

Ends/Wednesday, August 29, 2012
Issued at HKT 20:31


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