On September 8, 2024, Pan Gongsheng, Governor of the People’s Bank of China (PBOC), signed the Cooperation Memorandum of Understanding (MoU) with Ida Wolden Bache, Governor of Norges Bank on the sidelines of the Bank for International Settlements bimonthly meetings. As agreed in the MOU, the two central banks will enhance exchange and cooperation in economic developments, monetary policy, financial stability and other areas.