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Han Zheng, Timothy Massad talk about role of CCP12 in China
韩正会见美国商品期货交易委员会主席蒂莫西·马萨德
Online Edition
SHANGHAI Party Secretary Han Zheng met Timothy G. Massad, chairman of the US Commodity Futures Trading Commission last week while Massad was in town to attend the celebration of the Global Association of Central Counterparties (CCP12) as a legal entity in China.
Han said Shanghai is developing the pilot free trade zone and carrying out financial reform and innovation according to the national strategy. Shanghai wants to learn from other countries’ experiences and keep risks under control when conducting experiments.
He noted that financial institutions in Shanghai have active exchanges with their counterparts in the United States and their cooperation has been fruitful. He hoped CCP12 can become a new platform for exchanges and cooperation between local and international financial institutions.
Massad said China’s development in the past 30 years is impressive and Shanghai’s achievement has drawn world attention.
He said his commission is paying close attention to financial reform measures taken in Shanghai and is keen to share its expertise and increase cooperation with China and Shanghai.
Massad said the registration of CCP12 as a legal entity in Shanghai is essential to promoting fair competition and cooperation among international financial institutions.
Founded in 2001 by 12 central counterparty organizations, CCP12 is a global association with 33 members. Shanghai Clearing House joined the association in 2013.
CCP12 works to promote the industry dialogue on the adoption of best clearing and risk management practices and to support strategic progress on regulatory harmonization and enhancement of global standards.
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