Officials attend the launch ceremony of the China-UAE payment cooperation project in Abu Dhabi on November 19, 2025. Photo: PBC website

Pan Gongsheng, governor of the People's Bank of China (PBC), China's central bank, met with United Arab Emirates (UAE) Vice President Sheikh Mansour bin Zayed Al Nahyan and UAE Central Bank Governor Khaled Mohamed Balama in Abu Dhabi on Wednesday, exchanging views on bilateral financial cooperation, according to a press release on the PBC's website on Friday.

The officials attended the launch ceremony of the China-UAE payment cooperation project, witnessing the connectivity of China-UAE swift payment system, the first transaction of the UnionPay-Jaywan dual-brand card, and the launch of the UAE's multilateral digital currency bridge project JISR, per the press release.

On the same day, the two sides signed a Memorandum of Understanding between the Central Bank of the UAE and the PBC on cross-border payment connectivity, it said. The two sides will establish a regulatory framework for China-UAE cross-border payments in a bid to connect their swift payment systems, enable quick online processing of cross-border remittances for enterprises and individuals, enhance the efficiency and service quality of cross-border payments between China and the UAE, and further facilitate bilateral economic and trade activities as well as personnel exchanges, the press release said.