China mulls Asian financial association

FUZHOU - The China Banking Association is taking the lead in organizing the Asian financial cooperation association, said Yang Zaiping, vice-head of the association, on Monday.

When ready, the NGO will boost the safe and healthy growth of Asian finance, Yang said.

The global economy has been growing in an imbalanced way, as can be seen in trade, finance, rule making and global governance, and the growth of Asian economy will help relieve the imbalance, he said.

The organization will help Asia to gain more say in the international financial system, Yang said.

He made the remarks while attending the Asia Cooperation Dialogue (ACD) in Fuzhou, capital of East China's Fujian province.

The ACD, inaugurated in June 2002 in Cha-Am, Thailand, is a continent-wide forum aimed at building an Asian community without duplicating other organizations or creating a bloc against others.

The ACD this year focused on the Belt and Road Initiative. The plan, proposed by China in 2013, refers to the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, international trade and infrastructure projects.