BEIJING -- The China-Association of Southeast Asian Nations (ASEAN) Inter-Bank Association held its first council meeting here Monday, vowing to further boost exchanges of financial institutions and enterprises to improve cooperation between China and the ASEAN.

Chen Yuan, chairman of the China Development Bank (CDB), was elected the first council president of the inter-bank association.

The China-ASEAN Inter-Bank Association was founded on Oct 29, 2010.