Key Takeaways
- • On March 21, 2019, Pan Gongsheng, Administrator of the State Administration of Foreign Exchange (SAFE), met with Ray Dalio, founder, Board Chairman and co-CIO of Bridgewater Associates, and his delegation.
- • The two sides exchanged views on global economic and financial market conditions and on the opening-up of China's financial sector.
- • The meeting was a high-level engagement between China's foreign exchange regulator and one of the world's largest hedge fund managers, signaling continued dialogue on foreign access to China's financial markets.
Summary
Pan Gongsheng, Administrator of the State Administration of Foreign Exchange (SAFE), met with Ray Dalio, founder, Board Chairman and co-CIO of the US-based Bridgewater Associates, along with his delegation, on March 21, 2019, according to a SAFE news release published on its official website.
The two sides exchanged views on the global economic and financial market situation and on the opening-up of China's financial sector, among other issues. The release did not disclose specific commitments, policy outcomes, or investment figures arising from the discussions.
The meeting came amid ongoing efforts by Chinese authorities to broaden foreign participation in the country's financial markets. For Bridgewater, which manages a significant share of its assets on behalf of institutional clients worldwide, direct engagement with the foreign exchange regulator underscores the importance of China's market liberalization to global allocators. The release provided no further detail on the composition of the delegation or on follow-up steps.
The two sides exchanged views on the global economic and financial market situation and on the opening-up of China's financial sector, among other issues. The release did not disclose specific commitments, policy outcomes, or investment figures arising from the discussions.
The meeting came amid ongoing efforts by Chinese authorities to broaden foreign participation in the country's financial markets. For Bridgewater, which manages a significant share of its assets on behalf of institutional clients worldwide, direct engagement with the foreign exchange regulator underscores the importance of China's market liberalization to global allocators. The release provided no further detail on the composition of the delegation or on follow-up steps.
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