The People's Bank of China and the Central Bank of the UAE have launched the payment interconnection and JISR multilateral digital currency bridge project

The Governor of the People's Bank of China, Pan Gongsheng, recently attended the launch ceremony of the China-UAE Payment Cooperation Project alongside UAE Vice President Mansour and Central Bank Governor Khaled.

The two sides signed a memorandum of understanding on cross-border payment connectivity, announcing the interconnection of the two countries' fast payment systems to support online rapid cross-border remittances for businesses and individuals; witnessed the first transaction of the "UnionPay-Jaywan" dual-brand card; and officially launched the UAE's multilateral digital currency bridge project JISR to promote bilateral financial cooperation and enhance the efficiency of cross-border payments.