Pan Gongsheng, Governor of the People's Bank of China, attended the launching ceremony of the China-UAE payment cooperation project

According to Foresight News, according to Jinshi, Pan Gongsheng, Governor of the People's Bank of China, met with UAE Vice President Mansour and Central Bank Governor Khalid in Abu Dhabi, United Arab Emirates, on November 19, and exchanged views on strengthening bilateral financial cooperation. Both parties jointly attended the launch ceremony of the China-UAE payment cooperation project and witnessed the interconnection of China and UAE fast payment systems, the first transaction of the "UnionPay-Jaywan" dual-brand card and the official launch of the UAE Multilateral Digital Currency Bridge (JISR) project. On the same day, Pan Gongsheng and Khalid signed the "Memorandum of Understanding between the People's Bank of China and the Central Bank of the United Arab Emirates on Carrying out China-UAE Cross-Border Payment Interconnection." The two sides will build a regulatory framework for China-Arab cross-border payment cooperation, realize the interconnection of the two countries' fast payment systems, support enterprises and individuals of the two countries in quickly processing cross-border remittances online, improve the efficiency and service level of China-Arab cross-border payments, and further facilitate bilateral economic and trade activities and personnel exchanges.
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