The Bank of the Lao reported that its Governor, Bounkham Vorlachit, received a courtesy call from Fang Hong, Ambassador of the People’s Republic of China to Laos, with discussions focusing on Laos’s macroeconomic conditions and ongoing China–Laos cooperation linked to the banking sector. The meeting covered implementation of Laos’s socio-economic development plan and the current macroeconomic situation, alongside past and forward-looking cooperation between the Bank of the Lao and the People’s Bank of China and other Chinese counterparts. Areas highlighted included high-level exchanges, regular experience sharing, mutual support, and the role of Chinese commercial banks operating in Laos, with the Chinese side also pointing to efforts to promote the use of local currencies, kip and yuan, in bilateral trade and investment.
Bank of the Lao 2026-04-09
Bank of the Lao receives Chinese ambassador to advance banking cooperation and local-currency kip-yuan use
The Bank of the Lao reported a courtesy meeting between Governor Bounkham Vorlachit and Fang Hong, Ambassador of the People’s Republic of China to Laos, focused on Laos’s macroeconomic conditions and China–Laos banking sector cooperation. Discussions covered implementation of Laos’s socio-economic development plan, existing and future cooperation with the People’s Bank of China and Chinese commercial banks in Laos, and efforts to promote use of the kip and yuan in bilateral trade and investment.