The Governor of the People's Bank of China, Pan Gongsheng, meets with the Governor of the South African Reserve Bank, Kganyago.

On November 20, 2025, Governor of the People's Bank of China Pan Gongsheng met with Governor of the South African Reserve Bank Kganyago in Pretoria, South Africa. The two discussed various topics including bilateral financial cooperation. Pan Gongsheng stated that the economic and trade relations between China and South Africa are close, and there is great potential for bilateral financial cooperation. The People's Bank of China is willing to continue to maintain close communication with the South African Reserve Bank to provide higher quality financial services for trade and investment between the two countries. In addition, the two central bank governors witnessed the signing of a memorandum of cooperation between China UnionPay Co., Ltd. and the Cross-Border Interbank Payment and Clearing Corporation and their South African partners. These achievements will help enhance China UnionPay's payment service capabilities in various scenarios in South Africa, and facilitate South African institutions to conduct cross-border RMB transactions through the RMB cross-border payment system.