Kazakhstan and China sign banking agreement

Will strengthen cooperation in banking regulation.

The Kazakh National Bank and the Chinese Banking Regulatory Commission signed a Memorandum of Understanding in Beijing that will develop the banking sector in both countries and further strengthening and expand cooperation in bank regulation.

The head of Kazakh National Bank Grigory Marchenko also met with Zhou Xiaochuan, Governor of the People's Bank of China. Both men stressed the positive dynamics in relations between the two countries in the financial sector and the prospects for their further development.

They also talked about the possibility of making bilateral payments in the Kazakhstani tenge and the Chinese renminbi.