November 17, 2025, 18:00 Source: Ministry of Finance 财政部
https://de.china-embassy.gov.cn/chn/sbwl/202511/t20251117_11754826.htm
Translation via Sinocism.com
On November 17, 2025, Chinese Vice Premier He Lifeng and German Vice Chancellor and Federal Minister of Finance Klingbeil co-chaired the Fourth China–Germany High-Level Financial Dialogue in Beijing. Senior officials from both sides attended the dialogue. The two sides reaffirmed that this dialogue mechanism is an important platform for bilateral communication and policy coordination between China and Germany on strategic, overarching, and long-term issues in the fiscal and financial fields. Both sides are committed to strengthening macroeconomic policy coordination through multiple bilateral and multilateral channels, jointly promoting world economic recovery and sustainable development, and advancing global financial stability. The two sides agreed to step up cooperation in the fiscal and financial sectors and to further open their markets to each other on the basis of fair competition. Both sides are committed to jointly improving international economic governance and support a multilateral trading system with the World Trade Organization at its core that is rules-based, fair, open, transparent, inclusive, just, sustainable, and non-discriminatory.
2025年11月17日,中国国务院副总理何立峰与德国副总理兼财政部部长克林拜尔在北京共同主持第四次中德高级别财金对话。双方高级别官员出席对话。双方重申这一对话机制是中德就财金领域战略性、全局性、长期性问题开展双边沟通和政策协调的重要平台。双方致力于通过多双边渠道加强宏观经济政策协调,共同促进世界经济复苏和可持续发展,促进全球金融稳定。双方同意加强财金领域合作,在公平竞争的基础上扩大双向市场开放。双方致力于共同完善国际经济治理,支持以世界贸易组织为核心、以规则为基础、公平、开放、透明、包容、公正、可持续、非歧视的多边贸易体制。
The two sides reached the following consensus in the dialogue:
双方在对话中达成以下共识:
The two sides commit to upholding international and multilateral cooperation, opposing unilateralism and trade protectionism, and supporting the G20 in playing its role as the premier forum for international economic cooperation. The two sides are committed to implementing the consensuses of successive G20 summits and meetings of finance ministers and central bank governors, and will jointly promote closer G20 cooperation in such areas as strengthening macroeconomic policy coordination, advancing the reform of international financial institutions, safeguarding financial stability, promoting sustainable development, and the digital economy.
1.双方承诺将维护国际及多边合作,反对单边主义和贸易保护主义,支持二十国集团(G20)发挥国际经济合作主要论坛作用。双方致力于落实历次G20峰会及财长和央行行长会议等各项会议共识,将共同推动G20在加强宏观经济政策协调、推进国际金融机构改革、维护金融稳定、推动可持续发展及数字经济等领域加强合作。
The two sides stressed the importance of maintaining a rules-based multilateral trading system with the World Trade Organization at its core. The two sides support advancing WTO reform and are committed to fostering a trade and investment environment that is rules-based, fair, open, transparent, inclusive, just, sustainable, and non-discriminatory.
2.双方强调维护以世界贸易组织为核心、以规则为基础的多边贸易体制的重要性。双方支持推进世界贸易组织改革,致力于营造以规则为基础、公平、开放、透明、包容、公正、可持续、非歧视的贸易与投资环境。
The two sides commit to continuing close cooperation within the framework of the International Monetary Fund (IMF). The two sides support building a strong, quota-based, and adequately resourced IMF and support its core role in the global financial safety net. The two sides call for the timely completion of the 16th General Review of Quotas and believe that the quota adjustment should aim to better reflect members’ relative positions in the global economy, while ensuring that the quota shares of the poorest members are not affected.
3.双方承诺继续在国际货币基金组织框架下保持密切合作。双方支持建设一个强有力的、以份额为基础、资源充足的国际货币基金组织,支持其在全球金融安全网中发挥核心作用。双方呼吁及时落实第16次份额总检查,认为份额调整应旨在更好反映成员国在全球经济中的相对地位,同时保护最贫穷成员国的份额占比不受影响。
The two sides look forward to the 2025 shareholding review of the International Bank for Reconstruction and Development (IBRD) achieving results in line with the Lima Principles. The two sides recognize that China, through its lending cooperation with the IBRD, has made important contributions to the provision of global public goods in areas such as climate action, biodiversity conservation, and global health, bringing benefits to the World Bank Group and its stakeholders. The two sides acknowledge that Germany has provided 305 million euros to the World Bank, dedicated to incentivizing investment by middle-income countries in global public goods.
4.双方期待2025年国际复兴开发银行股权审议按照利马原则取得成果。双方认可中国利用国际复兴开发银行开展贷款合作,在为气候行动、生物多样性保护和全球医疗卫生等领域提供全球公共产品方面作出了重要贡献,为世界银行集团及其利益相关方带来福祉。双方认可德国向世界银行提供3.05亿欧元资金,专门用于激励投资全球公共产品的中等收入国家。
The two sides are committed to addressing the debt vulnerabilities of low- and middle-income countries in an effective, comprehensive, and systemic manner, and reaffirm their firm commitment to advancing the implementation of the G20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative, making it more predictable, timely, orderly, and coordinated. The two sides call on all stakeholders, including private creditors, to enhance debt transparency. We welcome the efforts of the IMF and the World Bank to improve debt transparency.
5.双方致力于以有效、全面和系统的方式解决中低收入国家的债务脆弱性问题,并重申将坚定推进二十国集团《缓债倡议后续债务处理共同框架》的实施,使其更加可预期、及时、有序和协调。双方呼吁所有利益相关方,包括私人债权人,加强债务透明度。我们欢迎国际货币基金组织和世界银行为提高债务透明度所作的努力。
The two sides firmly support the International Development Association (IDA) and look forward to the World Bank Group implementing the policy commitments of IDA’s 21st replenishment.
6.双方坚定支持国际开发协会(IDA),并期待世界银行集团落实IDA第21期增资各项政策承诺。
The two sides will continue to strengthen coordination and all-round cooperation under the framework of the Asian Infrastructure Investment Bank (AIIB), and jointly support the AIIB in achieving sustainable and sound operations in accordance with international standards, so as to better support its members in Asia and other regions in pursuing sustainable development. To achieve the shared goal of further supporting less developed members, the two sides have both contributed to the AIIB’s interest subsidy fund and will explore providing further support for the AIIB’s development.
7.双方将继续加强在亚投行框架下的协调和全方位合作,共同支持亚投行按照国际标准实现可持续、稳健运营,更好支持成员在亚洲及其他地区实现可持续发展。为实现进一步支持欠发达成员的共同目标,双方已共同向亚投行贴息基金出资,并将探索为亚投行发展提供更多支持。
The two sides agreed to continue cooperation under the China–Germany Ministry of Finance policy research cooperation mechanism and to step up exchanges on issues such as enhancing fiscal sustainability.
8.双方同意继续在中德财政部政策研究合作机制下继续合作,围绕提高财政可持续性等议题加强交流。
The two sides are committed to fully implementing the standards of the Financial Action Task Force (FATF) globally, and agree to strengthen cooperation in anti-money laundering and countering the financing of terrorism (AML/CFT) within multilateral frameworks, including the FATF. Through experience sharing and professional consultations, the two sides will support each other in completing the FATF’s Fifth Round of Mutual Evaluations and related work, and will maintain timely communication on bilateral AML/CFT matters. On the basis of appropriate legal frameworks, the two sides will jointly promote cooperation and information exchange in the area of financial intelligence, and look forward to continuously exploring feasible ways to deepen cooperation through regular consultations and working visits.
9.双方致力于在全球范围内全面落实金融行动特别工作组(FATF)标准,同意在包括FATF在内的多边框架下加强反洗钱和反恐怖融资(AML/CFT)领域合作,通过经验交流与专业咨询相互支持完成FATF第五轮互评估及相关工作,并就双边反洗钱和反恐怖融资事务保持及时沟通。双方将在适当法律框架基础上,共同推动金融情报领域的合作与信息交换,期待通过定期磋商和工作互访等方式持续探索深化合作的可行路径。
The two sides will continue to strengthen international development cooperation, jointly promote the implementation of the UN Sustainable Development Goals (SDGs) and the 2030 Agenda for Sustainable Development, and work to achieve stronger, greener, healthier, and more inclusive global development.
10.双方将继续加强国际发展合作,共同推动落实联合国可持续发展目标和2030年可持续发展议程,推动实现更加强劲、绿色、健康、包容的全球发展。
The two sides welcome the major progress made in strengthening the foundational work for green and sustainable finance, and will continue to deepen cooperation within the framework of the Network for Greening the Financial System (NGFS). By sharing knowledge and best practices, they will encourage and support financial institutions in enhancing the management of climate- and nature-related risks. The two sides agree to jointly promote greater interoperability and practicality of standards at the bilateral and global levels, avoid unnecessary red tape, and help mobilize private-sector funding needed for climate action, nature conservation, and achieving the SDGs. The two countries will continue to support capacity building in sustainable finance, with a focus on transition finance domestically and globally. The two sides particularly support relevant institutions in both countries in developing training content and undertaking capacity-building initiatives covering stakeholders in both countries and in third markets (especially emerging markets and developing economies). The two sides agree to deepen exchanges and cooperation among participants in their sustainable finance markets (including in transition finance), encourage innovative practices to broaden investment channels, and support financing for transition projects.
11.双方欢迎在夯实绿色金融与可持续金融基础建设方面取得的重大进展,将继续在“央行与监管机构绿色金融网络”(NGFS)框架下深化合作,通过分享知识和良好实践,鼓励和支持金融机构加强气候与自然相关风险管理。双方同意共同推动双边及全球层面增强标准互操作性与实践性,避免不必要的繁文缛节,助力动员气候行动、自然保护及实现可持续发展目标所需的私人部门资金。两国将持续支持可持续金融能力建设,重点聚焦国内及全球转型金融。双方特别支持两国相关机构开发培训内容并开展能力建设倡议,覆盖两国及第三方市场(尤其是新兴市场与发展中经济体)利益相关方。双方同意在两国可持续金融市场参与主体之间深化交流合作(包括转型金融),鼓励创新实践以丰富投资渠道,支持转型项目融资。
The two sides agreed to further strengthen cooperation on banking and insurance regulation, and are willing to explore the possibility of signing a memorandum of understanding, actively advancing the establishment of more robust exchange mechanisms, including a potential insurance supervisory cooperation agreement to be signed by the competent authorities on both the Chinese and German sides.
12.双方同意进一步加强银行业保险业监管合作,并愿探讨签署谅解备忘录的可能性,积极推进建立更加完善的交流机制,包括中德双方主管部门可能签署的保险监管合作协议。
The two sides welcome eligible companies listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange issuing Global Depository Receipts (GDRs) on the Frankfurt Stock Exchange, and welcome eligible companies listed on the Frankfurt Stock Exchange issuing Chinese Depository Receipts (CDRs) on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. They support enhancing the liquidity of GDRs and CDRs in their respective markets, and further improving the level of connectivity between the Chinese and German capital markets.
13.双方欢迎符合条件的上海证券交易所、深圳证券交易所上市公司在法兰克福证券交易所发行全球存托凭证(GDR),欢迎符合条件的法兰克福证券交易所上市公司在上海证券交易所、深圳证券交易所发行中国存托凭证(CDR),支持提升GDR和CDR在各自市场的流动性水平,进一步提高中德资本市场互联互通水平。