Said Raza, director of the capital operation Department of the National Bank of Pakistan, said on the 20th that providing services related to the RMB cross-border payment system in Pakistan will improve the efficiency of RMB cross-border transactions of the Bank of Pakistan and help deepen Pakistan China economic, trade and investment cooperation. Speaking at the online seminar on RMB cross-border payment system hosted by industrial and Commercial Bank of China Karachi branch (ICBC Karachi branch), Raza said that financial market infrastructure is of great significance to curb systemic financial risks and improve financial market stability. With the continuous improvement of the global status of RMB, ICBC Karachi branch has become a direct participant in the RMB cross-border payment system, which helps to improve the infrastructure of Pakistan's financial market and promote the development of cross-border RMB business in Pakistan. Xie Guoxiang, business public counsellor of the Chinese Embassy in Pakistan, said at the seminar that promoting the use of RMB in China Pakistan bilateral economic and trade cooperation is conducive to attracting more Chinese and Pakistani enterprises to make full use of the phase II protocol of the China Pakistan Free Trade Agreement, deepen bilateral cooperation in the fields of industry and agriculture, and promote the high-quality development of the China Pakistan Economic Corridor. At the seminar on the same day, relevant principals of China cross border interbank payment and Clearing Co., Ltd. and ICBC introduced the RMB cross-border payment system, how to join the system and the RMB clearing business of ICBC Karachi branch to the officials of the National Bank of Pakistan and representatives of commercial banks. It is understood that the RMB cross-border payment system is organized and built by the people's Bank of China to further integrate RMB cross-border settlement channels and improve the efficiency of RMB cross-border payment and settlement. ICBC Karachi Branch officially became a direct participant in the RMB cross-border payment system in August this year. (outlook new era)