The 10th Mongolia–China Banking and Financial Cooperation Roundtable was successfully held in Shanghai, jointly organized by the central banks of Mongolia and China. Since its inception in 2003, the roundtable has become one of the most important platforms bringing the banking and financial sectors of the two countries.
At this high-level meeting, Trade and Development Bank JSC (TDB) participated as a speaker, addressing real challenges faced by businesses engaged in cross-border trade. The bank discussed possibilities to enhance transaction accessibility by expanding the use of mutual settlement in Mongolian MNT, and by introducing international-standard trade finance instruments for importers and exporters.
Furthermore, TDB highlighted the difficulties businesses face with the circulation of physical CNY. Through constructive dialogue, the central banks of both countries reached a mutual understanding at the leadership level and agreed on concrete steps to gradually resolve these challenges.
TDB maintains correspondent relationships with 291 banks and financial institutions worldwide, and independently executes 32.2% of Mongolia’s foreign payment transactions.
TRADE AND DEVELOPMENT BANK