Mansour bin Zayed conducts the first direct digital payment transaction… and witnesses the launch of strategic initiatives to enhance financial cooperation and link financial infrastructure between the UAE and China.

ABU DHABI, 19 November / WAM / His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chief of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, received today at Qasr Al Watan in Abu Dhabi, His Excellency Pan Gongsheng, Governor of the People’s Bank of China, in the presence of His Excellency Khalid Mohammed Balamma, Governor of the Central Bank.

His Highness conducted the first payment transaction using the digital currency of the Central Bank between the UAE and China via the “Jisr” network, announcing the launch of the platform that aims to enhance cross-border payments and support the financial system.

His Highness also witnessed a ceremony celebrating the achievements of linking the financial infrastructure in the United Arab Emirates and the People’s Republic of China.

The inauguration ceremony was attended by the Governor of the Central Bank and the Governor of the People’s Bank of China, along with assistants to the Governor of the Central Bank and a number of senior officials from both sides.

The “Jisr” platform for digital currencies for central banks between the two countries, in which a group of Emirati and Chinese banks participate, aims to facilitate cross-border payments, significantly reduce transaction costs, and provide instant settlement of payments.

The platform is scheduled to witness additional expansion with the joining of more central banks during the year 2026, which will enhance economic prospects and consolidate the UAE’s pivotal role in the global financial connectivity system.

The interconnection between the UAE’s Instant Payment System (IPI) and China’s Internet Banking Payment System (IBPS) allows users in both countries to make immediate and secure financial transfers around the clock. The services of this connection include a wide range of uses, the most prominent of which are scholarship transfers for Emirati students in China, transfers from Chinese residents in the country, in addition to cross-border commercial transactions between companies in the two countries.

The connection represents a pivotal step towards developing an advanced and secure payment infrastructure, which enhances trade exchange, increases the efficiency and reliability of cross-border payments, and contributes to consolidating economic relations between the two countries.

The announcement of the issuance of the first multi-system prepaid card bearing the name “Jeun – UnionPay”, and the implementation of the first transaction using it, is a milestone that reflects the depth of cooperation between the two local card systems, “Jeun” of the Emirates and “UnionPay” of China. This card was issued in cooperation with the “Lari Exchange” Company, as the merger between the two systems allows these cards to be accepted on a broader global scale using the “UnionPay” global network, which covers more than 180 countries, while ensuring that transactions are processed locally when used. Within the UAE.

His Highness Sheikh Mansour bin Zayed Al Nahyan said: These advanced initiatives embody the depth of strategic relations between the UAE and the People’s Republic of China, and open new horizons for economic, financial and technical cooperation, stressing that the launch of the “Jisr” platform, the interconnection of instant payment systems, and the issuance of multi-system cards “Jeon-UnionPay” represent concrete steps towards developing a modern and secure financial infrastructure that enhances innovation and facilitates cross-border payments, thus enhancing the competitive capabilities of the UAE. And its leadership in the field of financial innovation globally.

In a related development, His Excellency Khaled Mohammed Al-Amaa, Governor of the UAE Central Bank, and His Excellency Pan Gongsheng, Governor of the People’s Bank of China, signed a memorandum of understanding aimed at enhancing cooperation in the field of cross-border payments, developing financial infrastructure, and supporting joint strategic initiatives aimed at consolidating close partnership relations between the two countries.

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