BAKU, Azerbaijan, April 3. The Azerbaijan Banks Association (ABA) and the China Banks Association (CBA) have reached a preliminary agreement to sign a memorandum of cooperation in the near future,Trend reports via the ABA.
According to ABA, a delegation from the association participated in a business meeting with the leadership and relevant departments of the CBA during their visit to the People’s Republic of China on April 1. The meeting was organized by the Azerbaijan Bank and Finance Training Center. ABA was represented by its President, Zakir Nuriyev, Executive Director, Yunus Abdulov, and Chief Economist, Azizagha Hakhverdiyev. From the Chinese side, CBA’s Vice President and Deputy Secretary-General Yin Youxiang, Secretary-General Xu Jieqin, and Director of the Research Department Li Jian took part.
During the meeting, both sides held detailed discussions on the activities of their bank associations, current priorities, and opportunities for future cooperation. Presentations were made on the current state and development trends of the financial sectors in both countries. In this context, Azerbaijan’s financial system was highlighted as ranking first globally in the “financial services” category according to the World Bank’s 2025 report, with emphasis on the role of the country’s regulatory framework in achieving this result.
CBA representatives Yin Youxiang and Xu Jieqin shared insights on China’s macroeconomic situation, financial stability, and strategic goals. ABA President Zakir Nuriyev outlined the association’s mission, key initiatives in the banking sector, and prospects for expanding Azerbaijan-China cooperation. Executive Director Yunus Abdulov presented ABA’s organizational structure and international collaboration efforts, while Chief Economist Azizaga Khakhverdiyev provided an overview of Azerbaijan’s macroeconomic situation and banking reforms. Li Jian highlighted innovative solutions and developments in the field of digital finance in China.
The meeting concluded with discussions on experience exchange in the banking sector and potential joint projects, resulting in a preliminary agreement to sign a memorandum of cooperation between ABA and CBA.
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