Kyrgyzstan and China discussed the possibility of securities issuance in Yuan

On September 20, a Kyrgyz delegation met with Zhang Qingsong, Vice Chairman of the People's Bank of China.

The participants discussed key issues of financial cooperation between the Kyrgyz Republic and China, including foreign investment attraction and issuance of government securities in Yuan to expand the market.

The Kyrgyz side touched upon the provision of financial guarantees by Chinese financial institutions for successful placement of securities, and the conclusion of the agreement on mutual settlements between the People's Bank of China and the National Bank of the Kyrgyz Republic.

In addition, the National Bank's accession to the cross-border interbank payment system was discussed. Finance Minister Almaz Baketaev emphasized the interest of our country in this payment system and noted the importance of resuming negotiations on the swap agreement between the central banks. 

They also touched upon the partnership of Kyrgyz commercial banks with the Bank of China, as only two out of 21 financial institutions have correspondent relations with it. The meeting demonstrated the willingness of both sides to deepen cooperation in finance and increase trade turnover between Kyrgyzstan and China.