SBV and PBC sign cooperation agreement
21/08/2024 12:08
On August 19, 2024, in Beijing, within the framework of the state visit by General Secretary/State President To Lam to the People’s Republic of China (PRC), a signing ceremony of the cooperation agreements in various fields between Vietnam and China was organized under the witness of General Secretary/State President To Lam and General Secretary/President Xi Jinping, together with the hi-ranking members of the two countries.
Regarding the banking sector, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) and Governor Pan Gongsheng of the People's Bank of China (PBC) signed a Memorandum of Understanding (MoU) on cooperation between the SBV and the PBC in order to create the foundation and specify the cooperation plans between the two central banks, which had been discussed and agreed at the 6th meeting session of the Working Group for financial and monetary cooperation.
Previously, on July 29, 2024, the SBV and the PBC had successful organized the 6th meeting session of the Working Group for financial and monetary cooperation, in which a number of specific cooperation orientations between the two sides had been agreed with the aims of creating a framework for the two central banks to enhance the cooperation, share information and experience in the central bank’s operations. The signing of the MoU, on the occasion of the state visit of General Secretary/State President To Lam, is of great importance for strengthening the cooperation between Vietnam and China in the finance and banking sector, contributing to developing the comprehensive strategic partnership between the two countries.
Source: SBV