On May 24, Tajikistan Financial Industry Executives Workshop hosted by Agricultural Bank of China Limited (ABC) held a grand opening ceremony in Beijing. A total of 40 department and bureau level cadres, senior officers and division executives from central bank, Ministry of Finance, and 10 major commercial banks of Tajikistan came to Beijing for study. Mr. Liu Shiyu, Chairman of ABC, Ms. Zhang Xiaohui, Assistant Governor of the People's Bank of China (PBOC), Mr. Wang Kaiwen, Ambassador of Ministry of Foreign Affairs of the People's Republic of China, Mr. Rashid Alimov, Ambassador of the Republic of Tajikistan in China, and Mr. Rustamov, Chairman of TJK Agricultural Investment Bank (AIB), made opening speeches. Mr. Zhang Yun, President of ABC, presided over the opening ceremony.
Chairman Liu said in his opening speech, "Sino-Tajikistan financial cooperation is an important part of all-sided economic and trade cooperation between the two countries. The success of this Workshop is not only beneficial to the friendly exchange in financial field between China and Tajikistan, but also an important step in deepening Sino-Tajikistan strategic relationship. ABC hopes that this Workshop may help the fiscal and financial community of Tajikistan get more profound understanding of economic development, financial operation, rural reform and other fields in China, and erect a communication and exchange platform, thus laying a firm foundation for deeper Sino-Tajikistan financial cooperation."
Two countries with adjoining mountains and rivers offer sincere assistance to each other
As 93% of the land area of Tajikistan is covered by plateaus and mountains, external exchanges are inconvenient. However, over the long history, high mountains and vast deserts could never stop the desire of Sino-Tajikistan people for mutual understanding and joint development. In May 2013, China and Tajikistan established a strategic partnership to comprehensively deepen collaboration, jointly facilitate regional economic and trade cooperation, and maintain regional safety and stability. In recent 6 years, China has made total investment of nearly USD500 million in Tajikistan, and has become its second largest trading country. As the political, economic and trade relationships between the two countries go deeper, Sino-Tajikistan financial cooperation gets a new starting point.
In September 2014, witnessed by Chinese Chairman Xi Jinping and Tajik President Emomali Rahmon, ABC and AIB signed the Agreement on Cooperation in Agricultural Field. ABC will offer credit support of RMB600 million and provide financial product and risk management trainings to AIB under commercial principles, thus boosting the upgrading of Sino-Tajikistan economic and trade cooperation. This is so far the largest-amount credit cooperation agreement between the two countries. Therefore, ABC becomes the first Chinese-funded large commercial bank participating in Sino-Tajikistan financial cooperation, and pioneers cooperation between commercial banks of the two countries.
Transferring applicable techniques to achieve win-win development
However, it is better to teach a man fishing than to give him fish. The financial industry of Tajikistan is developing rapidly. In September 2014, Tajik President Emomali Rahmon met with Party Committee Secretary Mr. Liu Shiyu and President Zhang Yun of ABC in Beijing. Meanwhile, President Rahmon proposed that training financial talents was more important than providing credit support. He hoped that ABC could train professional financial talents for Tajikistan through training and experience sharing to promote the healthy development of Tajik financial system. That was exactly the same as the technical cooperation concept of ABC.
ABC paid high attention to the proposal of President Rahmon. Chairman Mr. Liu Shiyu personally presided over the design of financial workshop plan, and made thoughtful arrangements from workshop subjects, course design and engagement of experts to catering service. The active preparations of ABC were highly recognized and supported by the Ministry of Foreign Affairs, PBOC, and other ministries and regulatory authorities.
Ambassador Mr. Wang Kaiwen said on behalf of the Ministry of Foreign Affairs in his opening speech, "Holding workshop for senior executives in financial industry of Tajikistan is an innovative financial cooperation mode between the two countries. The Workshop provides a platform to share experiences and discuss cooperation for the financial industry of both countries. It is beneficial for the integration of financial development concepts, the coordination of financial regulatory policies and the alignment of financial business between them. It will definitely open a new chapter in financial cooperation of the two countries."
Ms. Zhang Xiaohui, Assistant Governor of PBOC, said, "With the advancing of the Belt and Road Initiative, the willingness and demand of all countries along the line for enhancement of regional financial cooperation becomes increasingly urgent. ABC fully plays a role of pioneer and main force in Sino-Tajikistan financial cooperation by actively erecting financial cooperation platforms, innovating cooperation modes, and broadening cooperation fields. PBOC will proactively accommodate the new development trends, and further plan and promote financial cooperation with countries along the Belt and Road.
ABC platform to narrate the story of China
How to make a success of the first Financial Industry Executives Workshop in the history of the two countries is an important subject faced by ABC. After multiple discussions, ABC finally determined the objective of "using the Workshop as a platform to deliver the voice of China and narrate the story of China". The content of Workshop mainly covered macroeconomic finance in combination with business management of commercial banks from microcosmic perspective. The Workshop concentrated on demonstrating the achievements made in economic and financial reform and development of China, promoted the integration of financial service concepts and alignment of products between the two countries, and created a good financial environment for building the "Silk Road Economic Belt".
The "big shots" in the financial community of China, including Ms. Zhang Xiaohui, Assistant Governor of PBOC, Mr. Xie Duo, Secretary-General of National Association of Financial Market Institutional Investors, Mr. Xuan Changneng, Director of Financial Stability Bureau of PBOC, Mr. Li Bo, Director General of Monetary Policy Department of PBOC, Mr. Liu Fushou, Head of Supervisory Rules and Regulations Department of China Banking Regulatory Commission, and Mr. Chen Xinhua, Deputy Head of Budget Department of the Ministry of Finance, were gladly invited to give lectures for the Workshop.
Mr. Rustamov, Chairman of AIB, said, "I'd like to express my gratitude for the thoughtful arrangement made by ABC for the Workshop. I believe this will play an active role in building the sound fiscal system of Tajikistan and fostering its financial market, and help speed up Sino-Tajikistan comprehensive financial cooperation."
Family members wish each other well, so do neighbors
The success of Tajikistan Financial Industry Executives Workshop is only a start of ABC's serving Sino-Tajikistan cooperation and the national Belt and Road Strategy. As one of the four leading state-owned commercial banks and the rural financial service leader of China, ABC has been committed to implementation of the Belt and Road Strategy, provision of all-sided financial services for "going abroad" enterprises of China, and active fulfillment of large bank responsibilities. In 2014, ABC supported 78 overseas projects under the Belt and Road Initiative in 26 countries and regions. Such projects involved agricultural cooperation, infrastructure interconnection, energy and resources, equipment and electromechanical products, and other fields. Besides, ABC also took the lead to propose the conception for establishment of the Belt and Road Financial Technical Cooperation Fund for the purpose of creating international financial cooperation characteristics and new highlights by sharing product knowledge and professional skills of financial industry with the countries along the line.
Chairman Xi Jinping has figuratively compared Belt and Road to two wings for Asia to fly. The financial support and technical cooperation of ABC is like new blood to facilitate the flying wings. "Family members wish each other well, so do neighbors" has become a firm faith of ABC in actively serving the Belt and Road Initiative. Just like Chairman Liu Shiyu said, "ABC is willing to become a bridge in Sino-Tajikistan financial exchange and cooperation, actively serves the trade relation and capital investment between the two countries, promotes fund interconnection, and contributes more power to Belt and Road Initiative and the economic and social development of both countries."



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