The People's Bank of China (PBOC) and the National Bank of Cambodia signed two Memorandums of Understanding (MoU) on Tuesday to enhance financial cooperation.

Pan Gongsheng, governor of PBOC and head of the State Administration of foreign exchange, met with National Bank of Cambodia's governor Chea Serey in Beijing, according to a PBOC statement.

The two parties exchanged views on boosting bilateral financial cooperation and jointly signed the memorandums, one on cooperation on establishing yuan clearing arrangements in Cambodia, and another on cooperation on financial innovation and payment systems.