Iresearch On The Financial Support Of Cooperation Bietween China And Eurasia Economic Union Countries

Heads of state of China and Russia issued a joint statement on the cooperation between the Silk Road Economic Belt and the Eurasian Economic Union and proposed to connect the two strategies in May 2015.It not only promotes the economic growth of the Eurasian Economic Unions,contributes to the economic and trade cooperation between Eurasian countries in further but also accelerates our industrial restructuring and upgrading and be expected to open up the new economic growth point.Under the circumstances,as the core of the modern economy,the finance is necessary to quickly intermingle into the strategic framework of the docking cooperation and its regional economic integration,so as to give full support to the implementation of the strategy.The development effectiveness and problems of China and the Eurasian Economic Union countries in financial cooperation mechanism,financial institutions business cooperation,currency settlement,credit financing and capital market and insurance industry are very prominent.Financial cooperation mechanism is continuously improved,financial institutions set up branches with each other and actively carry out business cooperation,local currency settlement and currency swap are actively promoted by governments,credit financing is expanding,capital market and insurance industry cooperation are developing slowly.However,the financial cooperation between China and the Eurasian Economic Union countries is characterized by the slow progress of multilateral cooperation and the more bilateral cooperation,and this cooperation platform lacks tightness and binding.At the same time,the empirical studies show that China and the Eurasian Economic Union countries do not have the basis of deep financial cooperation in the short term,but the implementation of The Belt and Road strategy provides space for the further development of functional financial cooperation between the two sides.On this basis,we can deepen the development path of the financial docking cooperation between China and the Eurasian Economic Union countries.We believe that we must address the capital base of financial cooperation,that is,the need to establish a sound currency swap and currency settlement payment system,the use of international open financial institutions and national sovereign wealth funds;To open up securities markets with each other for promoting cooperation in the field of securities,especially countries should encourage outstanding enterprises to cross the listing and strengthen the regional bond market cooperation;And improve the international macroeconomic policy coordination and financial supervision cooperation mechanism.The docking cooperation between China and the Eurasian Economic Union countries has received multiple levels of response,so China must reply actively,and then turn the Silk Road Economic Belt initiative into reality.Therefore,our country should actively strengthen political mutual trust with the central Asian countries such as Kazakhstan and Russia;Fully play vanguard roles of commercial and development,policy banks in docking cooperation and pay attention to the role of insurance institutions in docking cooperation for improving the construction of domestic financial institutions system mechanism;Accelerate the construction of cross-border payment system and RMB return mechanism to promote the internationalization of the RMB.Looking forward to the future of financial cooperation,the development opportunities of China and the Eurasian Economic Union countries are far greater than the challenges facing.That China and the Eurasian Economic Union countries strengthen financial cooperation is facing many positive factors,such as strategic agreement,extensive economic ties and so on.But facing mang challenges,for example,there is a relatively large economic gap among countries,and the mechanism of economic cooperation is not perfect,and the power in the region is complex.The countries of the Eurasian Economic Union will not ignore China’s strong financial capital and become new leaders in the world economic growth,and the future financial docking cooperation will be broad.