38 financial institutions have signed a letter of intent to initiate the Asian financial cooperation association in China’s Haikou. The association was proposed by Chinese Premier Li Keqiang on Thursday during an opening ceremony at the annual Boao Forum. It aims to expand markets, boost cooperation and prevent financial turmoil. Those signed the letter of intent come from 12 countries and regions, and are engaged in banking, securities, insurance, funds and transaction. The association is expected to be established in July this year.
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