On November 20, 2025, Governor Pan Gongsheng met with Mr. Lesetja Kganyago, Governor of the South African Reserve Bank (SARB) in Pretoria, South Africa. They exchanged views on bilateral financial cooperation and related topics.

Governor Pan noted that China and South Africa enjoy close economic and trade ties, with a solid foundation and strong potential for financial cooperation. The People's Bank of China stands ready to maintain close communication with the SARB and continue delivering higher-quality financial services to support bilateral trade and investment.

In addition, the two governors jointly witnessed the signing of MOUs between China UnionPay, the Cross-Border Interbank Payment System (CIPS), and their respective South African partners. These outcomes will help enhance UnionPay payment services across multiple use cases in South Africa, and facilitate South African institutions’ cross-border RMB business via CIPS.