The President of the People's Bank of China (PBC), Pan Gongsheng, met with the President of the Central Bank of Brazil, Gabriel Galípolo, last Saturday, emphasizing the positive progress in strategic financial cooperation between China and Brazil. According to a statement released by the PBC, the Chinese central bank, on Tuesday, both sides highlighted significant advancements in bilateral cooperation in areas such as local currency swap agreements, financial markets, cross-border payments, and development financing.

The two parties also agreed to continue implementing signed agreements, including the Memorandum of Understanding on Strategic Financial Cooperation and the Bilateral Local Currency Swap Agreement, and to further promote financial cooperation between the two countries.

China and Brazil also held the second meeting of the committee for the Cooperation Fund for Productive Capacity Expansion and Sustainable Development, actively exploring opportunities to expand future partnerships.

(Source: Diplomacy Business – Brazil, on July 9)