The Prime Minister meets with the Chairman of the Chinese National Financial Regulatory Authority
Dr. Mostafa Madbouly, Prime Minister, met today at the government headquarters in the New Administrative Capital, Li Yuntze, Chairman of the Chinese National Financial Regulatory Authority, Liao Liqiang, Chinese Ambassador to Cairo, and their accompanying delegation, which included a number of officials from the Chinese National Financial Regulatory Authority. Finance, the Central Committee of the Communist Party of China, and officials of the Chinese Embassy in Egypt.
While the meeting was attended from the Egyptian side by Ahmed Kjouk, Minister of Finance, Dr. Mohamed Farid, Chairman of the Financial Supervision Authority, and Yasser Sobhi, Deputy Minister of Finance. , Ambassador Ahmed Shaheen, Assistant Minister of Foreign Affairs for Asian Affairs, and Mai Adel, Advisor to the Minister of Finance for Capital Market Operations. Accompanying them at the Council of Ministers headquarters, this is part of the agenda of the Chinese official’s current visit to Egypt, which comes one month after the visit of Dr. Mostafa Madbouly to Beijing to participate on behalf of President Abdel Fattah El-Sisi, President of the Republic, in the summit of the Forum for China-Africa Cooperation (FOCAC), and its holding. Meetings with senior Chinese officials to discuss ways to develop relations between the two countries in implementation of the understandings and directives of the presidents of the two friendly countries, noting that the exchange of high-level visits between officials of the two countries reflects the strength and strength of the strategic partnership relations between Cairo and Beijing.
The Prime Minister congratulated the government and people of the People’s Republic of China on its celebration of the Chinese National Day, which coincides with the 75th anniversary of the founding of the Chinese Republic, which coincides with Egypt’s celebration of the 51st anniversary of the victory of the Glorious October War.
Dr. Mostafa Madbouly referred to the state visit made by President Abdel Fattah El-Sisi, President of the Republic, to China last May, and his participation as a guest of honor in the opening session of the tenth session of the ministerial meeting of the Arab-Chinese Cooperation Forum and the understandings. Joint meetings with President Xi Jinping to agree on cooperation projects and programs, which will contribute to strengthening and improving relations between the two countries and benefit their friendly peoples, stressing Egypt’s keenness to strengthen close relations between the two countries.
< p>Meanwhile, Dr. Mostafa Madbouly congratulated the Chinese officials on the successful holding of the third full session of the Central Committee of the Communist Party of China in July 2024, the outcomes of which confirmed China’s continuation of the policy of openness, reform and achieving modernization in a way that meets the aspirations and hopes of the Chinese people, and what this will also provide. Important opportunities to enhance joint cooperation between China and countries of the world, especially developing countries, especially Egypt.
The Prime Minister expressed his aspiration to work with China during the coming period in order to implement the outcomes of the ministerial meeting. The tenth Forum for China-Arab Cooperation, which was held in Beijing in May 2024, as well as the outcomes of the Summit of the Forum for China-Africa Cooperation (FOCAC), which was also held in Beijing in September 2024. Dr. Mostafa Madbouly expressed his appreciation for what was included in the Chinese President’s speech during the opening session of the FOCAC Summit, which included setting a road map to develop and raise the level of relations between Egypt, China and Africa during the next three years, and announcing ten new strategic axes that include various priority areas of cooperation for the Chinese and African sides, worth about $52 billion, stressing Egypt’s aspiration to benefit from these partnerships and financing facilities to support its comprehensive development efforts.
During the meeting, the Prime Minister referred to the two countries’ celebrations of the ten-year anniversary of the launch of the partnership. The strategy between Cairo and Beijing since 2014 through the establishment of many activities and events in the political, economic, investment, tourism and cultural fields during this year.
Dr. Mostafa Madbouly appreciated the projects that are being implemented in partnership between The two countries, most notably the participation of Chinese companies in the project to build the financial and business district in the New Administrative Capital, the towers of the New Alamein City, and the light electric train.
He also touched on the talk about the TEDA Industrial Zone. The Chinese company located within the Suez Canal Economic Zone, praising the region’s great development in the industrial sector and describing it as a successful model, as it has succeeded in attracting many Chinese companies.
In this context The Prime Minister expressed his aspiration to increase the investments of Chinese companies in the Suez Canal Economic Zone in priority areas for Egypt, such as joint manufacturing, cars, electrical appliances, components of solar energy projects, and mobile phones, by benefiting from Egypt’s membership in free trade agreements and partnerships with Arab, African, and European countries, and Egypt’s geographical location. The unique, and the presence of the Suez Canal in its strategic location.
He expressed his appreciation for the work of Chinese companies in Egypt, as well as the companies with which he held interviews during the last period, and visited their work sites. Dr. Mostafa Madbouly praised the first issuance of Panda bonds within the Chinese financial market at a value of 3.5 billion Chinese yuan, equivalent to 500 million. Dollars with a credit guarantee provided by the “Asian Infrastructure Investment Bank and the African Development Bank”, as Egypt is the first country in Africa to be able to enter the Chinese stock market, and the issuance received great demand from a distinguished group of investors interested in the Egyptian market.
Dr. Mostafa Madbouly referred to the cooperation that took place between the two countries during the preparation of the first issuance of Panda bonds, which represents a reflection of the comprehensive strategic partnership between the two countries.
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He also stressed the centrality of cooperation in the monetary and financial field between the two countries, as it represents an important symbolism within the framework of the specificity of their bilateral relations, in a way that supports financial stability in Egypt.
The Prime Minister indicated Egypt’s readiness to cooperate with China to support the working mechanisms of the BRICS group, as it is one of the most important international forums that express the interests and priorities of developing countries and countries of the South, and to enhance their role in confronting global economic challenges and contributing to achieving global peace.
Dr. Mostafa Madbouly stressed the Egyptian government’s continued support for the one China principle and our position based on respecting China’s sovereignty and territorial integrity.
In turn, Li Yuntze thanked the Prime Minister for meeting with him and his accompanying delegation, expressing his appreciation to Dr. Mostafa Madbouly for the great interest he pays to Chinese companies operating in Egypt, as well as his constant keenness to enhance the levels of cooperation between Cairo and Beijing at various levels.
"Yontze" Greetings from the Chinese Prime Minister to Dr. Mostafa Madbouly, noting that the recent visit made by the Egyptian Prime Minister last September to Beijing to attend the FOCAC summit It had a pivotal role in enhancing cooperation and exchanging and sharing experiences and expertise between Cairo and Beijing. Under the leadership of the leaders of the two countries, he explained in this regard that the joint relations between Cairo and Beijing have witnessed significant development since the visit of President Abdel Fattah El-Sisi, President of the Republic, to China last May, where His Excellency held discussions with the Chinese President, Xi Jinping, during which they reached agreements. A mission on a number of priority areas of cooperation. Significant economic growth rates have placed China among the largest global economies.
He praised the achievements of the Chinese company TEDA in Egypt and its ability to attract many Chinese companies to Egypt, stressing She is a role model; To enhance economic and investment cooperation between the two countries.
In this regard, he said: We encourage Chinese companies to pump more investments into the Egyptian market, especially investment in the renewable energy and automobile sectors. electrical and advanced technologies, and we also encourage the export of high-quality Egyptian products to the Chinese market. He expressed his thanks to the Egyptian state for adopting the one China principle.
He indicated that after his return To China, he will convey the desire of the Egyptian side to enhance financial cooperation with banking and non-banking financial institutions in China, especially after his meeting today with Hassan Abdullah, Governor of the Central Bank; To discuss the horizons of future cooperation in this field between the two sides.
During the meeting, Dr. Mohamed Farid indicated that the Egyptian side is following the development of mechanisms and methods for monitoring markets and financial services by the Chinese side. He stressed that potential areas of cooperation include early intervention in the areas of market supervision and financial services, as well as enhancing efforts to protect the rights of traders in a way that contributes to achieving financial stability in the markets.
During the meeting, The Chinese ambassador thanked the Prime Minister for meeting with the Chinese delegation today, and for congratulating him on China’s celebration of the 75th anniversary of the declaration of the Chinese Republic, extending his congratulations to Egypt on the occasion of its celebration yesterday of the anniversary of the October 6th victory.
He added: This year marks the 10th anniversary of the establishment of comprehensive strategic partnership relations between Egypt and China, noting that over the past period there has been an exchange of high-level visits between Cairo and Beijing at various political, parliamentary and economic levels, and this reflects the two countries’ desire to Strengthening the levels of partnership between them, noting that the Chinese side will push towards enhancing the levels of joint cooperation to greater heights during the next stage.
