On September 18th, the reporter learned from the People's Bank of China that the interconnection of cross-border digital payments between China and Laos has been officially launched. This is a milestone achievement reached under the framework of the Memorandum of Understanding on Strengthening Cooperation in Financial Innovation, Digital Payments, and Legal Digital Currencies signed by the central banks of China and Laos in June 2026.

The reporter learned that in terms of barcode payment interoperability, the Digital RMB International Operation Center has established and operated the CBETS Cross border Settlement Integrated Service Platform (CBETS), which has completed cross-border system connectivity with the Lao National Payment Network (LAPNet), achieving cross-border interoperability between digital RMB and local barcode payments in Laos.

By the end of 2025, Chinese residents will be able to use digital RMB wallets to scan QR codes and make payments at local commercial banks and acquiring merchants in Laos. At present, China and Laos are jointly promoting functional upgrades and scene expansion to further facilitate personnel exchanges and cultural tourism consumption between the two countries.

In terms of economic and trade settlement interoperability, some local banks in Laos have connected to CBETS and opened a new type of trade settlement and investment and financing service called CBETS LIFT.

It is reported that Shubida Lifu can connect various links such as trade, shipping, freight, investment and financing, integrate scattered trade information, capital flow, business documents, etc., and provide an efficient, safe, inclusive, and closed-loop digital RMB trade settlement and investment and financing service channel for economic and trade exchanges.