Strengthening Cambodia China Cooperation in Cross Border Digital Payments
The National Bank of Cambodia and the People’s Bank of China in the Guangxi Zhuang Autonomous Region Branch advanced their long term financial cooperation during a high level meeting in Phnom Penh. Governor Chea Serey and President Chen Jinxiang reaffirmed a shared commitment to enhancing the connectivity of cross border payment systems and accelerating innovation in financial technologies. According to the central bank announcement, the discussions focused on deepening bilateral ties through interoperable payment infrastructure, improved financial services, and new collaboration frameworks that support seamless transactions between the two markets.
Expanding Digital Payment Connectivity and Financial Innovation
The dialogue underscored the priority both institutions place on modernizing their financial cooperation, particularly in relation to QR based cross border payments. The two sides explored technical solutions aimed at translating policy intentions into practical, operational cooperation. These include plans for more robust payment system interconnection and integrated fintech solutions capable of supporting rising trade and investment flows between Cambodia and the Guangxi region. President Chen Jinxiang commended Cambodia’s significant economic progress, noting the launch of the Techo International Airport as a major leap strengthening the Kingdom’s role as a logistics and investment hub in Southeast Asia.
Advancing Credit Information Sharing to Support Regional Enterprises
Chen Jinxiang highlighted the strong foundation of previous cooperation and confirmed the PBC’s intention to expand collaboration in credit information sharing. This initiative is expected to improve cross border risk assessment, widen access to credit, and reinforce financial transparency for enterprises operating in both economies. In response, Governor Chea Serey welcomed the plan and emphasized Cambodia’s ongoing efforts to strengthen its credit information systems in collaboration with other partner countries. She noted that these developments contribute directly to enhanced financial stability and increased trust for investors.
Promoting National Currencies in Bilateral Trade
Governor Serey also thanked the PBC Guangxi Branch for its continued support in including the Riel in the region’s official currency trading table. This effort promotes the broader use of the Yuan and the Riel in trade settlement, which she stated has facilitated cross border commerce while reducing reliance on third party currencies. In her official post, she wrote, “I am pleased to welcome Chen Jinxiang, President of PBC Guangxi Zhuang Autonomous Region Branch and his colleagues. We discussed the cooperation between the central banks of the two countries, especially in the payment system.” She further affirmed, “We also learned about each other’s economies, especially in terms of promoting investment by investors from Guangxi province to Cambodia and the payment of goods between the two countries in Chinese Yuan and Cambodian Riel.”
Practical Benefits for Businesses and SMEs
The use of the Yuan and the Riel for trade settlement continues to rise as businesses recognize their practicality. The direct exchange rate introduced by the PBC Guangxi Branch has simplified procedures for traders, reduced transaction costs, accelerated payment cycles, and encouraged small and medium sized enterprises to participate more actively in cross border commerce. These steps reinforce a policy structure that strengthens Cambodia China economic cooperation and enhances the financial foundation required for sustained bilateral growth.