China's central bank and the Bank of the Lao PDR renew bilateral currency swap and digital currency cooperation agreement

Odaily Odaily News The People's Bank of China and the Bank of the Lao People's Democratic Republic, during the visit of Lao leader Thongloun Sisoulith to China, renewed the bilateral local currency swap agreement (RMB/LAK) and an MOU on strengthening cooperation in financial innovation, digital payments, and legal digital currencies. The documents aim to solidify local currency liquidity arrangements between the two central banks, advance cooperation in areas such as digital payments and central bank digital currencies, and support economic and trade exchanges and cross-border settlement needs between China and Laos. (Jin Shi)