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Trilateral Finance Ministers’ Meeting Latest Event : 2020.09.18
20th Trilateral Finance Ministers and Central Bank Governors' Meeting

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  • 2020.09.18
  • Korea (Online)
■Participants
China: Ministry of Finance
Japan: Ministry of Finance
ROK: Ministry of Strategy and Finance

■Outcome
​- The spread of COVID-19 caused substantial impacts on the regional economies, a contraction in economic activities, heightened volatility in the financial markets and disruptions to the global value chains. Three countries agreed to continue all policy efforts while remaining vigilant to the future uncertainties, and reaffirmed the importance of maintaining an open and rules-based multilateral trade and investment system.

- It marks 10th anniversary of the CMIM agreement coming into effect, and acknowledged that the progress made in the operational readiness, and welcomed the amended CMIM Agreement and Operational Guidelines coming into an effect in June. Korea-China-Japan also highly regarded AMRO’s timely analysis on impacts of COVID-19 efforts to enhance regional macroeconomic surveillance.

■Documents
Joint Message of the 20th Trilateral Finance Ministers’ and Central Bank Governors’ Meeting
19th Trilateral Finance Ministers' Meeting

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  • 2019.5.2
  • Nadi, Fiji
■Participants
Ministry of Finance of China, People's Bank of China
Ministry of Finance of Japan, Bank of Japan
Ministry of Economy and Finance of the ROK, Bank of Korea

■ Agenda
* Discussed recent global and regional economic developments and potential risk factors in financial markets and underlying economic conditions. 
* Discussed the vision for the future regional financial cooperation at the juncture of the 20th anniversary of the ASEAN+3 Finance Process. 
* Welcomed the successful conclusion of the first CMIM Periodic Review and expect the early entry-into-force of the amended CMIM Agreement. 
* Mentioned AMRO’s continuous efforts in enhancing regional macroeconomic surveillance
* Supported the new ABMI Mid-term Road Map 2019-2022 to further promote the development of local currency bond markets and foster regional financial integration. 

■ Documents
Joint Message of the 19th Finance Ministers and Central Bank Governors' Meeting
18th Trilateral Finance Ministers' Meeting

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  • 2018.05.04
  • Manila, Philippines
■Participants
China: Ministry of Finance
Japan: Ministry of Finance
ROK: Ministry of Strategy and Finance

■Outcome
* Discussed current economic developments and potential risk factors in financial markets and underlying economic conditions.
* Welcomed the successful progress of the first Chiang Mai Initiative Multilateralization (CMIM) Periodic Review.
* Reaffirmed strong support for AMRO to further enhance its surveillance and organizational capacity to fulfill its mandate as an independent, credible and professional international organization.
* Discussed Asian Bond Markets Initiative (ABMI)'s significant progress in a number of areas such as capital increase of the Credit Guarantee and Investment Facility (CGIF), publication of the study report on promoting local currency-denominated green bonds for infrastructure development, Central Securities Depository-Real Time Gross Settlement (CSD-RTGS) linkage between the bank of Japan (BOJ) and the Hong Kong Monetary Authority (HKMA) towards around 2021, and the approval of General Principles for the participation of non-ASEAN+3 country as observer in ASEAN+3 Bond Market Forum (ABMF) as well as the efforts in updating Good Practices in Developing Bond Market.
* Welcomed the agreement of Japan, Lao PDR, Myanmar and Singapore to establish a regional catastrophe risk pool as a first product of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF)

■Documents
Documents 18th Trilateral Finance Ministers and Central Bank Governors' Meeting Joint Message (May 4, 2018)
17th Trilateral Finance Ministers’ Meeting

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  • 2017.05.05
  • Yokohama, Japan
■Participants
China: Ministry of Finance
Japan: Ministry of Finance
ROK: Ministry of Strategy and Finance

■Outcome
* Agreed that the trade is one of the most important engines of economic growth and development and to resist all forms of protectionism.
* Welcomed the revision of the CMIM Operational Guidelines to clarify the activation process of the IMF De-linked Portion.
* Welcomed the ongoing work by ASEAN+3 Macroeconomic Research Office (AMRO) to strengthen its capacity and role in regional macroeconomic surveillance, CMIM support and technical assistance & the significant contribution of the Asian Bond Markets Initiative (ABMI) to developing local currency bond markets.

■Documents
17th Trilateral Finance Ministers and Central Bank Governors' Meeting Joint Message (May. 5, 2017)
16th Trilateral Finance Ministers’ Meeting

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  • 2016.05.03
  • Frankfurt, Germany
■Participants
China: Ministry of Finance
Japan: Ministry of Finance
ROK: Ministry of Strategy and Finance

■Outcome
* Strengthened the joint monitoring and joint policy initiative for domestic economic conditions and financial markets.
* Shared the need for restructuring to boost economic productivity and potential growth, and agreed to share policy experiences and joint policy initiatives through various cooperatives.
* Strengthened collaboration with member states to improve the functionality of the CMI multi-currency swap.

■Documents
Joint Message of the 16th Trilateral Finance Ministers’ and Central Bank Governors’ Meeting
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Tripartite Governors’ Meeting among the Central Banks of the three countries Latest Event : 2019.6.10
11th Tripartite Governors’ Meeting among the Central Banks of the three countries
  • 2019.6.10
  • Fukuoka, Japan
■Participants
China: People’s Bank of China
Japan: Bank of Japan
ROK: Bank of Korea

■Outcome
* Exchanged views on recent economic and financial developments in the three countries.

■ Documents
Press Release of the 11th Tripartite Governors' Meeting among PBC, BOJ, and BOK
10th Tripartite Governors’ Meeting among the Central Banks of the three countries
  • 2018.11.24
  • Tianjin, China
■Participants
China: People’s Bank of China
Japan: Bank of Japan
ROK: Bank of Korea

■Outcome
* Exchanged views on recent economic and financial developments in the three countries.
9th Tripartite Governors’ Meeting among the Central Banks of the three countries
  • 2017.09.14
  • Incheon, Korea
■Participants
China: People’s Bank of China
Japan: Bank of Japan
ROK: Bank of Korea

■Outcome
* Exchanged views on recent economic and financial developments in the three countries.
8th Tripartite Governors’ Meeting among the Central Banks of the three countries
  • 2016.10.11
  • Tokyo, Japan
■Participants
China: People’s Bank of China
Japan: Bank of Japan
ROK: Bank of Korea

■Outcome
* Exchanged views on recent economic and financial developments in the three countries.
7th Tripartite Governors’ Meeting among the Central Banks of the three countries
  • 2015.09.04
  • Ankara, Turkey
■Participants
China: People’s Bank of China
Japan: Bank of Japan
ROK: Bank of Korea

■Outcome
* Exchanged views on recent economic and financial situation as well as financial liberalization in the three countries.
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