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IDB brings Latin American bankers to Beijing to increase their knowledge of China

China Insights Program aims at improving the commercial and financial relations between both regions

Eleven senior representatives of trade finance and international commerce departments of financial institutions from Latin America and the Caribbean are participating this week in the first China Insights Program, an immersion program focusing on the economic, financial and cultural reality of China.  The program was organized by the Inter-American Development Bank (IDB) to help banks from Latin America and the Caribbean improve the commercial and financial ties between their client firms and compaies from China.

Inaugurated by IDB President Luis Alberto Moreno and He Jianxiong, head of the International Department of the People’s Bank of China, the China Insights Program will cover key aspects of the Chinese financial and commercial regulation, including current important trends such as the internationalization of the Renminbi. The program will help participating bankers from Brazil, Chile, Costa Rica, the Dominican Republic, Ecuador, Guatemala, Honduras, Panamá, Paraguay, and Peru to better assist their clients closing import and export transactions to and from China.

“We know that the potential of the Chinese market is huge and yet, still quite unknown to the financial intermediaries of Latin America and the Caribbean," said Gema Sacristan, Chief of the IDB's Financial Markets Division. "For that reason, a deeper knowledge of the Chinese financial system will help reinforce the commercial relations between both sides of the Pacific.”

Programmed activities include expert panels, networking events for the LAC bankers and their Asian counterparts, visits to the financial authorities, the People’s Bank of China and the China Council for the Promotion of International Trade. With this Program.  China is the first stop of the Insights Program, expected to be replicated in other countries in order to help other banks from the region in their support of the internationalization of companies from Latin America and the Caribbean.

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