Kathmandu, Jan 29: China’s central bank, the People’s Bank of China, has said it is ready to support modernization of electronic payment transactions and expand cooperation and exchanges.
The assurance came during a meeting on Wednesday between PBOC Governor Pan Gongsheng and Nepal Rastra Bank Governor Prof Dr Bishwanath Paudel. The two governors discussed bilateral cooperation focused on emerging practices in the financial sector, new ideas, technological progress, and shared benefits from these developments, along with other current issues.
They also talked about easing QR code-based payments during travel by citizens of both countries, with a focus on making transactions simpler and reducing costs.
During his visit to China, Governor Paudel said steady cooperation, coordination, and communication between the two central banks were necessary, adding that Nepal Rastra Bank stood ready to play its part. The meeting took place on the sidelines of the 20th Asia Pacific High Level Meeting on Banking Supervision, organized by the Bank for International Settlements in Tianjin, China.
The discussions also covered opportunities and challenges related to cross-border payments, investment, and cooperation between Nepal and China.
Also present at the meeting were Zhou Yu, supervising director general of the International Department of the PBOC, along with Executive Director Dirghabahadur Rawal from the Bank Supervision Department of Nepal Rastra Bank and Assistant Director Roshan Neupane from the Governor’s Office.
People’s News Monitoring Service
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