Renewal of Relevant Cooperation Documents between Central Banks of China and Laos.

Recently, during the visit of the General Secretary of the Lao People's Revolutionary Party and President of Laos, Thongloun Sisoulith, to China, with the approval of the State Council, the People's Bank of China and the Bank of the Lao People's Democratic Republic renewed the "Bilateral Local Currency Swap Agreement between the People's Bank of China and the Bank of the Lao People's Democratic Republic in Renminbi/Lao Kip". At the same time, the central banks of the two countries also renewed the "Memorandum of Understanding between the People's Bank of China and the Bank of the Lao People's Democratic Republic on Strengthening Financial Innovation, Digital Payments, and Cooperation on Legal Digital Currency". The signing of the above cooperation documents will help promote bilateral financial cooperation between China and Laos and deepen the economic and trade relationship between the two countries.