PANews reported on November 21 that Pan Gongsheng, Governor of the People's Bank of China, along with UAE Vice President Mansour and Central Bank Governor Khaled, recently attended the launch ceremony of the China-UAE Payment Cooperation Project. The two sides signed a Memorandum of Understanding on cross-border payment interconnection, announced the interconnection of their respective fast payment systems to support rapid online cross-border remittances for businesses and individuals, witnessed the first transaction using the UnionPay-Jaywan dual-branded card, and officially launched the UAE Multilateral Digital Currency Bridge (JISR) project to promote bilateral financial cooperation and improve the efficiency of cross-border payments.