Azerbaijan, China central banks explore closer cooperation

A delegation from the Central Bank of Azerbaijan (CBA), headed by Chairman Taleh Kaz?mov, met with Pan Gongsheng, Governor of the People’s Bank of China, during an official visit to Beijing.

Azernews reports, the discussions covered key topics including monetary policy and financial stability, payment systems, QR and mobile payment solutions, and the regulation of payment service providers. Officials also exchanged experiences on regulatory practices in the digital currency sector.

The meeting highlighted opportunities to deepen collaboration between the central banks of Azerbaijan and China, as well as explore other areas of mutual interest.

Azerbaijan and China are entering a phase where financial cooperation, particularly in the banking sector, can become a core pillar of their economic relationship. Several structural trends, shared strategic goals, and emerging regional projects create strong potential for deeper banking integration. Chinese credit lines represent another avenue that is likely to expand. Policy banks such as China Development Bank and the Export–Import Bank of China can channel financing into key Azerbaijani sectors, ranging from logistics hubs and industrial zones to green energy and digital infrastructure.

Digital finance is poised to become a major pillar of cooperation. China is actively piloting the digital yuan in cross-border logistics and trade settlements, and Azerbaijan’s highly digitalised public services create an attractive environment for experimentation. The Middle Corridor could become a testing ground for digital customs payments, blockchain-based cargo financing, and integrated fintech platforms. At the commercial level, Chinese fintech companies such as WeChat Pay and Alipay may pursue partnerships with Azerbaijani payment systems, facilitating seamless digital transactions for tourism, e-commerce, and business services.

Multilateral structures will reinforce this bilateral cooperation. Azerbaijan’s membership in the Asian Infrastructure Investment Bank provides a neutral platform for securing low-interest infrastructure financing, which often aligns with Chinese banking participation. This trilateral dynamic, including AIIB, Chinese banks, and Azerbaijani institutions, can help de-risk major projects and accelerate development of the Middle Corridor.