Joint Statement by the People's Bank of China, the Bank of Japan and the Bank of Korea

December 10, 2008

The People's Bank of China, the Bank of Japan and the Bank of Korea have agreed to hold Governors' meetings on a regular basis to exchange views on regional economic and financial developments as well as topics of common interest concerning central banking.

The three banks have decided to set up this Tripartite Governors' Meeting to strengthen the existing process of informal dialogue among the three Governors that has taken place for many years.

The enhanced communication among the Governors of these three important central banks is expected to contribute to monetary and financial stability in the region.

In principle, the Tripartite Governors' Meeting will take place once a year.  The People's Bank of China will host the first meeting in 2009.