26 July 2021

The China Securities Regulatory Commission and the MNB have signed a bilateral cooperation agreement to promote exchanges of information and knowledge sharing between the two institutions. The agreement includes the sharing of information between the two authorities and regulatory cooperation affecting the operation of cross-border institutions.

A cooperation agreement has been ceremonially signed by the China Securities Regulatory Commission (CSRC) and the Magyar Nemzeti Bank (MNB). Deputy Governor Csaba Kandrács, representing the MNB, and Vice-Chairman Xinghai Fang, representing the CSRC, acted as signatories at the online signing ceremony.

The agreement provides a framework for exchanges of information and knowledge sharing between the two authorities relating to regulatory activities, thereby enhancing mutual assistance and partnership between the authorities mandated to oversee the capital market. The agreement covers, among others, the investigation of market manipulations and insider trading, exchanges of information between the authorities and regulatory cooperation over the operation of cross-border institutions in the context of investment services, issuance of securities and clearing.

The document signed extends and complements the existing agreement, signed within the framework of a multilateral agreement with the International Organization of Securities Commissions (IOSCO), and a bilateral agreement concluded in 2016 between the MNB and the China Banking Regulatory Commission.

For years, the MNB has focused its attention on strengthening and extending its international and professional strategic relations with counterparty central banks, international economic organisations and financial institutions. The current agreement marks a crucial milestone along this road.

Magyar Nemzeti Bank