On July 31 the delegation from People's Bank of China visited the National Bank of Georgia and met the governor of the national bank Giorgi Kadagidze.

The delegation was comprised by the representatives of the Urumqi sub-branch of the People’s Bank of China – the deputy governor Mr. Yue Yongsheng, deputy director of the monetary cooperation department Ms. Tang Xinyu and deputy director of the monetary policy department Ms. Wang Dan.

The members of the Chinese delegation representatives of the People’s Bank of China were presented information about the functioning of the Georgian securities market and about its investment opportunities. The visitors expressed the interest and the readiness to sign the agreement on the Georgian Lari/ Yuan currency swaps between the National Bank of Georgia and the People’s Bank of China.

The visitors were given the presentation on the current situation of the Georgian banking sector, regulations and the supervisory policies of the National bank.

On today’s meeting the visit of the governor of the Central Bank of China with the official delegation to Georgia has been planned. Colleagues from China will visit Georgia in September.

An understanding has also been reached to sign the cooperation agreement between the National Bank of Georgia and the People’s Bank of China once the agreement on the currency swaps will have been finalized.

The People’s Bank of China was established on December 1, 1948. The People's Bank of China has the most financial assets of any single public finance institution ever. The governor of the PBC is appointed into or removed from office by the President of the People's Republic of China. The PBC has established 9 regional branches, 303 municipal sub-branches and 6 overseas representative offices all over the world.