Natia Turnava: Cooperation with China’s banking sector will provide access to various financial products

The President of the National Bank of Georgia (NBG), Natia Turnava, has highlighted the importance of strengthening cooperation with China’s banking sector, emphasizing that such a partnership will enable Georgian citizens to access a broader range of financial products and offers.

“This is a remarkable opportunity for the Georgian banking sector to access a major financial market like China, expand transaction capabilities, and enhance correspondent relations with Chinese banks,” Turnava stated following her official meetings in China.

She also stressed that this cooperation will diversify Georgia’s financial sector, providing consumers with increased access to various financial services.

During her visit, Turnava met with her Chinese counterpart, Pan Gongsheng, the Governor of the People’s Bank of China. Following their discussions, the National Bank of Georgia and the People’s Bank of China signed a Memorandum of Understanding aimed at strengthening bilateral cooperation.

According to the NBG, the agreement covers areas such as monetary policy collaboration, financial technology, payment systems, and the development of securities markets, fostering knowledge and experience exchange between the two institutions.

Additionally, the Georgian delegation held meetings with Zhang Weiwu, Vice President of the Industrial and Commercial Bank of China, Liu Jin, Vice President of the Bank of China, and Ji Zhihong, Executive Director of the China Construction Bank.

These three institutions are part of China’s “Big Four” banks. The Bank of China operates in 64 countries, managing total assets of approximately $4.6 trillion. The Industrial and Commercial Bank of China has a presence in 49 countries, with assets exceeding $6 trillion, while the China Construction Bank operates in 31 countries, managing around $5.4 trillion in total assets.