Pan Gongsheng, Governor of the People's Bank of China, meets with Piyush Gupta, CEO of DBS Group from Singapore.

On March 22, Pan Gongsheng, Governor of the People's Bank of China, met with Chua Sock Koong, Chief Executive Officer of DBS Group, to exchange views on DBS Group's business expansion in China and deepening financial cooperation. During the meeting, Governor Pan Gongsheng witnessed the signing of the renminbi business clearing agreement. After obtaining authorization from the People's Bank of China, DBS Group will become the second renminbi clearing bank in Singapore and the first local bank in Singapore to serve as a renminbi clearing bank. This cooperation in clearing services will provide more convenient options for renminbi clearing for bilateral trade and investment between the two countries, further facilitating trade and investment between China and Singapore.