中国 Central Bank and Bank of Laos Renew Bilateral Local Currency Swap and Digital Currency Cooperation Documents

Odaily Odaily reports that during the visit of Lao leader Thongloun Sisoulith to China, the People's Bank of China and the Bank of the Lao PDR renewed the bilateral local currency swap agreement between the Chinese Yuan and the Lao Kip, and also renewed the Memorandum of Understanding on strengthening cooperation in financial innovation, digital payments, and legal digital currencies. The documents aim to consolidate local currency liquidity arrangements between the two central banks, advance cooperation in areas such as digital payments and central bank digital currencies, and serve the economic and trade exchanges and cross-border settlement needs between China and Laos. (Jinshi)