The People’s Bank of China reported that Governor Pan Gongsheng met Central Bank of Brazil Governor Galípolo and agreed to further advance bilateral financial cooperation, citing positive progress in areas including the local-currency swap arrangement, financial markets, cross-border payments and development finance. Both sides agreed to continue implementing existing cooperation documents, including the strategic financial cooperation memorandum of understanding and the renminbi/real bilateral local-currency swap agreement. Separately, the second committee meeting of the China-Brazil Sustainable Development and Expanded Production Capacity Cooperation Fund was held to explore additional cooperation, with the second batch of project outcomes described as extensive and further funding support envisaged for projects aligned with both sides’ shared interests.
Central Bank of the Republic of China 2025-07-08
People’s Bank of China and Central Bank of Brazil agree to deepen implementation of the CNY/BRL swap and broader financial cooperation
The People’s Bank of China and the Central Bank of Brazil agreed to enhance bilateral financial cooperation, focusing on local-currency swaps, financial markets, and cross-border payments. They will continue implementing existing agreements, including a strategic financial cooperation memorandum and a renminbi/real swap agreement. Additionally, the China-Brazil Sustainable Development and Expanded Production Capacity Cooperation Fund held its second meeting to discuss further funding for projects of mutual interest.