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China going to increase share of payments in national currencies — Deputy PM

Ding Xuexiang recalled that 2025 was a year of China's presidency in the organization

BEIJING, June 3. /TASS/. China plans to develop financial and economic ties with member-countries of the Shanghai Cooperation Organization (SCO) and increase the volume of payments in national currencies with them, Deputy Prime Minister Ding Xuexiang said at the meeting with representatives of SCO finance ministries and central banks in Beijing.

"This year is the year [of presidency] of China. We are ready to use this opportunity to work together with other countries - SCO members on development priorities, strengthen financial cooperation, expand payments in national currencies, promote inclusive digital finances and proactively work on creation of the SCO development bank," the official said, cited by the Xinhua news agency.

SCO members at present are Belarus, India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. Afghanistan and Mongolia have the observer status. SCO also has fourteen dialog partners (Azerbaijan, Armenia, Bahrain, Egypt, Cambodia, Qatar, Kuwait, the Maldives, Myanmar, Nepal, the UAE, Saudi Arabia, Turkey, and Sri Lanka).

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