NB, People’s Bank of China agree to expand cooperation

According to the press service of the bank, the meeting has discussed the issue of cooperation in several areas including in foreign exchange regulation in Kazakhstan, cash circulation between Kazakhstan and China, exchange of information between the National Bank of Kazakhstan and the People's Bank of China. In addition, the parties have considered the issues of payment system development and mutual settlements between the two countries, as well as payment and exchange trading currency pair Chinese yuan/Kazakhstan tenge, securities and other financial instruments of Kazakhstan Stock Exchange. President of the Xinjiang branch of the People's Bank of China (PBOC) Guo Jianwei, Deputy Director General of the Department of monetary policy of the PBOC Zhou Chengjun stressed that collaboration between the National Bank of Kazakhstan and the People's Bank of China has a strong base for further development. According to Guo Jianwei, an increase in the volume of trade turnover between our countries is facilitated by the use of national currencies, investments in settlement transactions. Guo Jianwei also noted the significant efforts of the National Bank of Kazakhstan in the field of international relations. "Last year we signed an agreement on payment transactions in cross-border trade. Kazakhstan Stock Exchange carries out the Chinese yuan/Kazakh tenge currency pair trading which beneficially affect the cooperation of Kazakhstani and Chinese companies," said Mr. Guo Jianwei. He added, that the two central banks have signed an agreement on currency swap. During the meeting, representatives of the People's Bank of China noted the importance of such a project as the international financial center in Astana.