In Beijing, within the working visit, Levan Davitashvili met with representatives of the People’s Bank of China, where they discussed important issues of cooperation between the two countries in the financial sector.

As it was noted at the meeting, the cooperation and experience sharing between the National Bank of Georgia and the People’s Bank of China should be strengthened in key areas, including the implementation of monetary policy and prudent supervision.

“The National Bank of Georgia is currently working on the modernization of the payment infrastructure in Georgia, which includes the development of the Instant Payment System (IPS) to make it faster and more efficient. This will encourage trade and economic relations. Bilateral and regional cooperation on payment services is also important for the development of a safe, efficient, accessible and compatible international payment network.

We also discussed the signing of a memorandum of understanding between the National Bank of Georgia and the People’s Bank of China, which will provide a formalization of partnership and a comprehensive framework for future cooperation”, - said Levan Davitashvili.

The meeting also discussed the prospects of strengthening the cooperation of the National Bank of Georgia with the countries of the region in the direction of development of financial technologies. The conversation touched on the emergence of alternative means of financing, including opportunities to invest in yuan-denominated securities, as well as access to government bonds for the Georgian financial sector and Georgian economic agents.