On July 5th 2025, Pan Gongsheng, Governor of the People’s Bank of China (PBOC), met with Gabriel Galipolo, Governor of the Central Bank of Brazil (BCB). The governors highly commended the positive progress made in bilateral financial cooperation, such as bilateral local currency swap, financial markets investment, cross-border payments and development financing. They agreed to continue implementing the Memorandum of Understanding on Financial Strategic Cooperation Between the PBOC and the BCB, and the Bilateral Local Currency Swap Agreement Between the PBOC and the BCB, and advance China-Brazil financial cooperation on all fronts.
Recently, the China-Brazil Cooperation Fund for the Expansion of Production Capacity for Sustainable Development (China-Brazil Fund) has held its second Committee Meeting, published the second batch of deliverable projects, and actively explored ways to expand future cooperation. Going forward, China and Brazil will continue to engage and collaborate under the China-Brazil Fund, provide financial support for projects of common interest, and contribute to the financial strategic cooperation between the two countries.
