The People's Bank of China (PBOC) and the Bank of the Lao PDR renewed a bilateral local-currency CNY/LAK swap agreement and a memorandum of understanding on cooperation in financial innovation, digital payments and central bank digital currency (CBDC). The signings, approved by China's State Council, took place during Lao President Thongloun's visit to China and are intended to promote bilateral financial cooperation and deepen trade ties.(金十数据)