ASTANA, Kazakhstan, July 10. The National Bank of Kazakhstan and the People's Bank of China has entered into a Memorandum of Understanding providing for the exchange of experience in the development of central bank digital currencies (CBDC), Trend reports.
The parties agreed to exchange knowledge and expertise, implement joint research in the field of CBDC, and develop the competencies of employees through joint training.
The National Payment Corporation of the National Bank of Kazakhstan and the Institute of Digital Currency on the part of the People's Bank of China will also participate in the implementation of the goals of the memorandum.
The signed document emphasized the need for countries to work hand in hand in the financial sector and expressed the two nations' eagerness for out-of-the-box thinking and the advancement of cutting-edge digital technologies.
Meanwhile, the volume of trade turnover between Kazakhstan and China amounted to $6.27 billion from January through March 2024. This volume increased by 6.3 percent compared to the same period in 2023 ($5.9 billion).
At the same time, exports to China for the above period amounted to $3.18 billion, while imports from China amounted to $3.09 billion.