Chinese and Thai Central Banks Execute Fintech Cooperative Agreement

The People’s Bank of China (PBOC) has entered an agreement with the Thai central bank to work together on fintech development.

On 9 June PBOC head Yi Gang (易纲) met with Bank of Thailand governor Veerathai Santiprabhob in the Japanese city of Fukoka to execute the Chinese-Thai fintech cooperative agreement, with the goal of strengthening innovation, joint research, information sharing and regulatory cooperation in the fintech sector.

PBOC said it will work with the Bank of Thailand to create an ecosystem which is favourable to the growth of fintech in order to support innovation and technological progress, and will also strive to reduce costs and raise the efficiency of financial products and services.

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