China's banking regulator said on Thursday it will enhance financial monitoring cooperation with Irish Financial Services Regulatory Authority (IFSRA).

Liu Mingkang, China Banking Regulatory Commission (CBRC) chairman signed a memorandum of understanding on bilateral monitoring cooperation with his counterparts, Jim Farrell, IFSRA chairman.

The CBRC said on its website the move was part of its efforts to improve bilateral cooperation on finance monitoring mechanism, and raise cross-border banking monitoring level.

Meanwhile, the move will help the CBRC to conduct information checkup and communication with other finance regulators worldwide, and to tackle problems and risks in time.

China has signed the memorandum of understandings and such kind of agreements with other 32 countries and regions, The United States, the United Kingdom, Germany and Spain were included, among others.

(Xinhua News Agency October 31, 2008)